
The Queen's Speech saw the Conservatives and Liberal Democrat coalition detail how they intend to save
UK jobs and help to bolster the economy as the country recovers from the recession.
People on benefits will be affected by the welfare reform bill, which the Queen said would simplify the current system and improve incentives to get unemployed people into work.
"Changes to national insurance will safeguard jobs and support the economy. People will be supported into work with sanctions for those who refuse available jobs and the timetable for increasing the state pension age will be reviewed," she stated.
The pensions and savings bill will also affect UK workers with the state pension age, which will currently increase to 66 after 2024, being put under review.
Noel Quinn, head of commercial banking for HSBC, recently said that British business often downplays its strengths and he thinks the economic signs are reasonably positive and show the UK is on the road to recovery.