Well, another state opening of parliament, another Queen's speech.
What did you make of it this year? There's little there that we weren't already aware of, and it's fairly short on details but, putting the politics of how and when these reforms will be implemented to one side for a moment, there were a couple of snippets that caught my eye:
The Energy Bill - will introduce compulsory social price support to tackle fuel poverty and protect the most vulnerable consumers. It will also require Ofgem, the energy watchdog, to actively step in and protect consumers when necessary and to consider longer term actions to promote competition between providers and tackle market exploitation.
Financial Services Bill - it will introduce a national money guidance service, to be delivered by a new Consumer Financial Education Body. The bill also aims to make sure there is greater support and protection for consumers of financial products as well as enabling a consumer representative to bring an action through the courts on behalf of a group of consumers. It will also outlaw unsolicited credit card cheques to prevent financial institutions from encouraging customers to borrow more than they can afford.
Fiscal Responsibility Bill - full details will be outlined in the Chancellor's Pre-Budget Report on the 9 December, but its primary purpose is to halve the national deficit over four years - which currently stands at £825m.
Digital Economy Bill - aims to tackle copyright infringment through a consumer education programme and, if necessary, allowing firms to disconnect persistent offenders. The bill also gives Ofcom new powers to review digital infrastrucure every two years.
Flood and Water Management Bill - after the floods of 2008 caused around £3bn worth of damage, this bill aims to provide better protection for homes, communities and businesses from the risk of extreme weather.
As usual, the full details and implications of these reforms will no doubt emerge over the coming days and weeks, but what do you think? Do you welcome these proposals? Will this give you more confidence in the financial system? Is this a good thing for the future of Digital Britain'?
Cheers,
Graeme Delap,
Community Editor,
graeme.delap@moneysupermarket.com
Thank you to all our
Community Stars 2009