UK Bills Target Late Payments and Cybersecurity Threats
UK Bills Target Late Payments and Cybersecurity Threats
https://www.pymnts.com/news/regulation/2026/uk-bills-target-late-payments-and-cybersecurity-threats/
Publish Date: 2026-05-14 11:36:00
Source Domain: www.pymnts.com
Cybersecurity, a voluntary digital ID and protections for small businesses will be the subjects of bills introduced in the United Kingdom’s Parliament.
These bills were highlighted in the King’s Speech delivered Wednesday (May 13) by King Charles III during the State Opening of Parliament, according to a transcript posted by the U.K. government.
The State Opening of Parliament is a ceremonial event that marks the start of a new parliamentary year and outlines the government’s agenda for the session. The King’s Speech is written by the government and highlights its proposed legislation, according to the U.K. Parliament’s website.
The King’s Speech included 37 bills, according to background briefing notes posted by the Prime Minister’s Office.
Among them are the Small Business Protections (Late Payments) Bill, which King Charles III said will “tackle late payments.” The bill would impose maximum payment terms of 60 days, with limited exceptions; require interest for late payments; and introduce a time limit for raising invoice disputes, according to the briefing notes. It would apply only to U.K. to U.K. transactions.
Another bill, the Regulating for Growth Bill, will “reduce the burden of unnecessary regulation through innovation,” according to the King’s Speech. This bill would require consideration of growth in regulatory decision-making, without undermining regulator’s core objectives, and would create “sandboxing powers” that would allow rules to be relaxed so that new products and technologies can be tested in real-world settings, per the briefing notes.
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A third bill, the Digital Access to Services Bill, will introduce a Digital ID that will “modernize how citizens interact with public services,” King Charles III said. The Digital ID would be optional and would be designed to enable more convenient access to public sector services and the wider economy, according to the briefing notes.
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