The King has formally opened the next session of Parliament in a speech setting out the Government’s plans for the year ahead. The King’s Speech set out 37 Bills with a theme of stability. You can read full details of the speech below.
Read the King’s Speech 2026
Responding to the State Opening of Parliament, Neil Davy, CEO FBUK said:
There was a substantial focus on the economy in this speech, but family businesses will have listened with concern at the lack of certainty amid ongoing political turbulence. Family businesses are built on long-term stewardship; they plan in decades, not in political ‘moments’ or election cycles. Above all they value stability and certainty as a fundamental tenet of long-term planning.
On late payments:
We welcome the announcement to tackle late payments. This remains a persistent challenge for family businesses, with significant impacts on both cash flow and competitiveness. It is vital that all firms adhere to the new rules and are held accountable. Clearer limits on payment terms, stronger enforcement mechanisms and greater transparency are important steps toward better supporting family businesses.
On the Public Procurement (British Goods and Services) Bill:
Family businesses are inherently local. They reinvest in their communities and have been helping to build Britain for generations. We are keen to act as a convenor in support of the Government on public procurement. Family businesses deliver significant social value: 87% actively support their local community in at least one key area. Ensuring they are fully embedded within the procurement framework will be integral to its success.
On the National Wealth Fund Bill:
The ambition to stimulate greater private sector investment in infrastructure is welcome. However, we must also foster a financial environment that recognises family businesses as reliable partners, given they are often underserved in the finance market. Funding frameworks should better support family businesses that prioritise long-term, patient capital – an approach that underpins the UK’s economic resilience and long-term industrial strength – and we hope this will be front and centre with this new Bill.
On further EU Alignment:
Many family businesses will welcome measures that make it easier to trade with our EU partners. Greater digital support is needed to facilitate smoother interoperability with overseas systems. This should include practical training and guidance for family businesses, targeted grants to help businesses adapt their systems, and affordable solutions for smaller e-commerce exporters struggling with cross-border logistics.
On the Energy Independence Bill
Family businesses welcome measures to tackle high and volatile energy costs, which continue to place significant pressure on firms across the UK. Our research shows that 30% of family businesses say energy costs or volatility are now the main barrier to growth.
Speeding up the delivery of clean energy technologies and grid infrastructure has the potential to strengthen energy security and give businesses greater confidence to invest for the long term. It is also important that businesses receive fair and proportionate support alongside households as the transition progresses.