The Government has been given the go ahead to revoke EU financial services regulations and replace them with new UK rules, following inclusion of a planned bill in today’s Queen’s Speech.

The Queen’s speech at the State Opening of Parliament did not offer much hoped for clarity on the roadmap to social care reform despite a reference to bringing forward the reforms.

A new Financial Services Bill and a ‘refined’ Pension Schemes Bill will be introduced by the Government as part of a 30-bill programme announced in the Queen’s Speech today.

Chancellor Sajid Javid will unveil a Budget on 6 November, a few days after the UK is due to leave the European Union.