Theresa May had been proposing to introduce a double lock instead from 2020.
But after failing to get a majority in the House of Commons, some of the more contentious plans, such as the proposed pension reforms, have ostensibly been shelved.
Papers released after the speech showed that the Government programme will also include three Finance Bills to implement budget decisions.
The Bill includes work on replacing the Money Advice Service, TPAS and Pension Wise with one guidance body, "ensuring that people across the UK are able to seek the help and advice they need to manage their finances".
Have you read the latest @FPTodayMagazine yet? See what's inside the June edition here:https://t.co/rrDyErGjdR pic.twitter.com/MW90VDjN1Q
— FP Today (@FPTodayNews) June 22, 2017
The Government said the Bill will:
- establish a new statutory body, accountable to Parliament, with responsibility for coordinating the provision of debt advice, money guidance, and pension guidance
- transfer the regulation of claims management services to the Financial Conduct Authority, and transfer complaints-handling responsibility to the Financial Ombudsman Service
A Summer Finance Bill 2017 will include a range of tax measures including those to tackle avoidance.
Plans for social care were widely expected to be axed after proving unpopular during the election campaign.
They were mentioned however, albeit briefly, with the Queen stating: "My ministers will work to improve social care and will bring forward proposals for consultation."
Tom Selby, senior analyst at AJ Bell, said: “While Brexit is clearly sucking up huge amounts of policy time and resource, there remains a significant domestic reform agenda for the minority Government to be getting on with. Unfortunately we have a hung Parliament and a Prime Minister staggering on following a disastrous general election campaign.
“The result of this is a delayed Queen’s Speech which gives no clarity on either the major structural strains on the UK’s pensions system, or the outstanding legislative issues that were sidelined by the snap election.”
Charles Counsell, chief executive of the Money Advice Service, said: “We welcome the Government’s announcement of the creation of the new Single Financial Guidance Body. This will give a more joined up offering to customers across debt advice, pensions advice and broader money guidance.
“Critically, the new body will also carry on the important work underway through the Financial Capability Strategy to improve people’s ability to manage their money effectively.
“This is an exciting day for all those who care passionately that people should be given help to understand and deal with financial issues.”
The Queen's announcements focused primarily on the Government's plans for Brexit.
She said: "My government’s priority is to secure the best possible deal as the country leaves the European Union. My ministers are committed to working with Parliament, the devolved administrations, business and others to build the widest possible consensus on the country’s future outside the European Union.
"A bill will be introduced to repeal the European Communities Act and provide certainty for individuals and businesses. This will be complemented by legislation to ensure that the United Kingdom makes a success of Brexit, establishing new national policies on immigration, international sanctions, nuclear safeguards, agriculture, and fisheries.
"My government will seek to maintain a deep and special partnership with European allies and to forge new trading relationships across the globe. New bills on trade and customs will help to implement an independent trade policy, and support will be given to help British businesses export to markets around the world.
"My ministers will strengthen the economy so that it supports the creation of jobs and generates the tax revenues needed to invest in the National Health Service, schools, and other public services.
"My government will continue to improve the public finances, while keeping taxes low. It will spread prosperity and opportunity across the country through a new modern, industrial strategy."
The Government papers stated: "The programme will also include a technical Bill to ratify several minor EU agreements and further Bills, which will be announced in due course, to effect the UK’s withdrawal from the EU. The government will also be taking forward a range of other measures which may not require primary legislation."
The #QueensSpeech will deliver a Trade Bill and a Customs Bill to enable the UK to conduct its own trade policy. pic.twitter.com/ttrn8l4Xto
— UK Prime Minister (@Number10gov) June 21, 2017
The Queen arrives at the Palace of Westminster to open @UKParliament at #StateOpening. Watch live from 11.15 https://t.co/bOMa8BRlpu pic.twitter.com/Q5iOiftnpb
— House of Lords (@UKHouseofLords) June 21, 2017
During #StateOpening Government Whip @chhcalling will be ‘held hostage’ at Buckingham Palace to ensure the safe return of the Queen pic.twitter.com/q0WvClnES8
— House of Commons (@HouseofCommons) June 21, 2017