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Queen's Speech Focuses On Economy, No Bill On NI Protocol

UK

The Queen's speech, laying out the gov'ts legislative agenda for the coming session, delivered little in the way of surprises, with the focus on shoring up the UK economy, while attempting to walk the tightrope of soothing unionist concerns in Northern Ireland without committing to breaking the Northern Ireland protocol of the Brexit Withdrawal agreement.

  • On Northern Ireland, HRH Prince Charles, the Prince of Wales, (delivering the speech on behald of HM Queen Elizabeth II) stated that the "continued success and integrity of the whole of the United Kingdom is of paramount importance to my government, including the internal economic bonds between all of its parts...My government will prioritise support for the Belfast Agreement and its institutions...
  • This committment does not go so far as to confirm legislation allowing the UK gov'ts exit from the NIP via legislation, a demand of the Democratic Unionist Party which is at present refusing to join the Northern Ireland executive.
  • Start of speech made reference to impact of inflation on households, but no specific legislation on the issue forthcoming. Speech stated gov't would seek to support "growth to improve living standards and fund sustainable investment in public services...This will be underpinned by a responsible approach to the public finances, reducing debt while reforming and cutting taxes.”
  • Comes as the latest poll from YouGov shows PM Boris Johnson's Conservatives narrowing gap with Labour to just 1%. LAB: 36% (-3), CON: 35% (+2), LDEM: 10% (-1), GRN: 8% (+2), REF: 4% (+1), via YouGov, 05 - 06 May. Changes w/ 26-27 Apr. Unclear whether poll is an outlier or signal of trend following days of headlines about potential COVID rule breaches by Labour leader Sir Keir Starmer.

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