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Queen's Speech rules out VAT, income tax and national insurance hikes

VAT, income tax and national insurance will not rise before 2020, David Cameron has confirmed in the first all-Conservative Queen’s Speech since 1996.

The Prime Minister used the speech at the House of Lords to deliver on several key election pledges, including backing legislation to block any tax increases and guaranteeing that no one working 30 hours on the minimum wage will pay income tax.

Ministers will report annually on job creation and apprenticeships as the government aims to achieve the highest rate of employment among the G7 nations and create three million apprenticeships over the course of the next parliament.

The enterprise bill announced by the new business secretary Sajid Javid also received a mention. The bill will reduce regulation on small businesses, cutting red tape by at least £10bn and introducing a Small Business Conciliation Service to help settle disputes between small and large businesses.

Under the majority Conservative government, a higher 50% turnout threshold for strikes will be brought in, plans the Trades Union Congress said will effectively outlaw most action.

Members of both the House of Lords and House of Commons will begin debating the government’s legislative programme at 2:30pm.

More to follow…

@LukeToddUK

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