Legal News | 18.06.26

King’s Speech 2026: Implications for Employment, Commercial and Corporate Law

The King’s Speech on 13 May 2026 outlined the government’s proposed legislative programme for the forthcoming parliamentary session.  A number of the measures announced are likely to be of particular relevance to employers, commercial businesses and corporate advisers.

While the proposals remain subject to the parliamentary process, the King’s Speech provides a clear indication of the areas in which legislative reform is anticipated over the coming year.

This article explains what the principal proposals are and why they matter for businesses.

Employment law

For Employment Law, the King’s Speech was strikingly modest. The King reiterated the Government’s commitment to reforms and support for “higher growth and a fair deal for working people”. However, there were few direct new Employment Law measures contained within the Speech itself.

The Employment Rights Act 2025 was the central topic of the Speech, with implementation forming the key Employment Law story. We have already seen changes to Statutory Sick Pay, day-one paternity leave and unpaid parental leave, stronger whistleblowing protection for sexual-harassment disclosures, higher collective redundancy protective awards, and the creation of the Fair Work Agency in 2026.  Please see Employment Law Update April 2026 – Wansbroughs LLP.

Attention will now turn to October 2026 and January 2027 with the proposed new duty to take “all reasonable steps” to prevent sexual harassment, tighter union-related rules, a shortened unfair-dismissal qualifying period of six months, and fire-and-rehire protections.

The Speech highlighted the Equality (Race and Disability) Bill, which will require larger employers with 250 or more employees to publish ethnicity and disability pay data.  It would also place equal pay protections for ethnic minorities and disabled people on a statutory footing. In practical terms, employers will need to consider whether their existing employment documentation and internal policies remain suitable.

From a wider perspective, the proposed reforms reflect a continuing policy emphasis on employee protection and workplace stability. Employers would be well advised to begin identifying the areas of their business most likely to be affected and to plan accordingly.

Commercial law

The principal commercial reform announced in the King’s Speech is the Government’s determination to address late payment.  This is likely to be of particular importance to businesses with extensive supply chains or high volumes of subcontracting.

The proposed Small Business Protections (Late Payments) Bill is intended to impose a 60-day cap on payment terms for large firms paying smaller suppliers, require interest on late payments at 8% above base rate, and give the Small Business Commissioner stronger investigatory and enforcement powers. There are also proposals affecting retention payments in the construction sector, which may have material consequences for project documentation and cashflow management.

The King’s Speech also referred to a Draft Ticket Tout Ban Bill and a Sporting Events Bill.  The first would prohibit resale of tickets above their original price and cap resale platform fees.  The second would create a framework for major sporting events, including restrictions on unauthorised association, advertising and trading around event locations, and resale of tickets for major events.

The Cyber Security and Resilience Bill is another commercial measure to note.  It would extend the scope of the current regime, strengthen the regulator’s powers and require more incident reporting.  For businesses, this points to a broader compliance burden in relation to cyber preparedness and breach response.

The Regulating for Growth Bill is intended to require regulators to take account of economic growth and innovation, while permitting controlled testing of new products and technologies.  That may be relevant to clients operating in regulated sectors, particularly where innovation is dependent on regulatory engagement at an early stage.

Corporate law

From a corporate law perspective, the Competition Reform Bill is the most notable development.  It is intended to clarify the tests the Competition and Markets Authority (CMA) uses when deciding whether it has jurisdiction to review a merger, and to give businesses greater certainty about whether a transaction is likely to be investigated.

The Bill would also give the CMA and parties more time at the early stage of an investigation to engage and, where possible, agree solutions.  It would shorten market reviews and give the CMA Board a role in decisions on mergers and market investigations.  For companies, this means that transaction planning will continue to require early competition analysis, even if some aspects of the process become more structured.

The proposed pay reporting reforms are also relevant to corporate governance.  Larger employers would need to gather, verify and disclose ethnicity and disability pay data, which would increase the importance of internal reporting systems and board oversight.

Finally, the Regulating for Growth Bill may also have corporate significance where it changes the way regulators balance growth and compliance.  For boards, that is likely to affect risk management, product development and the timing of engagement with regulators.

Conclusion

The King’s Speech 2026 confirms that the government intends to pursue an active reform agenda across employment, commercial and corporate law.  The detail will depend on the wording of the Bills as they are introduced and amended, but the main themes are already identified as stronger workplace rights, tighter payment discipline, and a more active regulatory framework for transactions and markets.

This article should not be relied upon as legal advice. If you would like specific legal advice, or require any assistance, then please get in touch: 020 4549 2460 or 01380 733300 | commercial@wansbroughs.com