Queen’s Speech pledges to strengthen financial sector

Queen Elizabeth has committed the government to working toward financial stability and the future vibrancy of the economy in her speech to open Parliament today.

This morning Her Royal Highness outlined the government’s pledges to create Savings Gateway Accounts to encourage people on lower incomes to save and to ensure fairer protection for bank depositors.

She says: “My government is committed to helping families and businesses through difficult times.

“The strength of the financial sector is vital to the future vibrancy of the economy. Therefore, legislation will continue to be taken forward to ensure fairer and more secure protection for bank depositors and to improve the resilience of the financial sector.

“My government will also bring forward proposals to create Saving Gateway Accounts to encourage people on lower incomes to save more by offering financial incentives.”