Growing economy and cost-of-living help
Before the House of Commons rose for the Whitsun recess, the King’s Speech was delivered to Parliament, setting out the Government’s agenda for the forthcoming parliamentary session.
Legislation will include further measures to clean up the water industry, tackle youth unemployment and support people into work, strengthen ties with the European Union, speeding up infrastructure projects, reform the leasehold system, scale-up homegrown renewable energy, and introduce the Hillsborough Law requiring a duty of candour for public servants.
The latest economic figures showed the UK is the fastest growing economy in the G7 so far this year, with growth up to 0.6% for Q1 2026, beating forecasts in March despite the Iran war. Inflation also fell to 2.8 per cent in April, down from 3.3 per cent in March.
The Government announced several measures to help with the cost of living.
The 5p cut on fuel duty will be extended to the end of the year, tariffs are being suspended on over 100 different foods sold in supermarkets, and a 10p per mile increase in tax free mileage rates has been introduced, backdated to April 2026 – benefiting those who need to drive for work, from care workers to plumbers.
Families should be able to enjoy time together over the summer, not just get by. In addition to making bus travel free for children in August, the Chancellor cut VAT to 5 per cent on children’s menu meals, tickets for cinemas, theatres and concerts, amusement parks, wildlife parks, museums and soft play centres – ensuring families can make memories together for less this summer.
The Government also announced a crackdown on organised crime gangs exploiting high streets through rogue businesses, with dodgy shops facing raids, closures and cash seizures.
I hope you have enjoyed a wonderful bank holiday weekend and made the most of this excellent weather – although it is perhaps a little hot for May!