Queen’s Speech confirms Government will go ahead with Brexit Freedoms Bill | Shearman & Sterling LLP

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Prince Charles, Prince of Wales, delivered the Queen’s Speech in which he announced that the government would introduce the so-called Brexit Freedoms Bill, which was first announced by Prime Minister Boris Johnson on January 31, 2022, and aims to make it easier to change or remove retained EU laws to better suit UK circumstances and policies. The Brexit Freedoms Bill will work in tandem with a government drive to reform, repeal and replace EU laws deemed outdated, burdensome or otherwise contrary to the UK’s national interest.

Prince Charles also said new legislation would be introduced to strengthen the UK’s financial services sector and that UK data protection laws would be reviewed. This legislation is based on the retained EU law version of the EU General Data Protection Regulation. The changes are intended to stimulate innovation, competition and growth.

The legislation will also establish the UK Infrastructure Bank, which will aim to support economic growth and the transition to net zero. Legislation will also be introduced to enable the implementation of the free trade agreements the UK has entered into since leaving the EU.

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