The King's Speech 2026: Positive Money response

In response to the announcements made on the Enhancing Financial Services Bill, Sara Hall, Co-Executive Director of Positive Money, said:

“The new Financial Services Bill should support real change to a financial sector which is unfit for purpose; Starmer has acknowledged that the Government isn’t doing enough for struggling households, but today’s King’s Speech didn’t match up to the radical measures that the PM himself said are needed.

“While some positive measures were announced, like those aimed at facilitating the expansion of credit unions, the devil will be in the detail - particularly on issues like ring-fencing, where the banking sector has long been calling for watered down rules that will allow them to take more risks with customers’ money, and divert investment outside of the UK.

“The opportunity of a new Financial Services Bill should be seized to build a financial system that truly serves the UK economy and society, including by supporting the growth of banks that prioritise members and communities rather than just shareholders.”

Notes:

• For more information or to speak to a spokesperson please contact press@positivemoney.org.uk

• Details on the King's Speech can be found here: https://assets.publishing.service.gov.uk/media/6a04533f2a6137e93226bae8/The_King_s_Speech_2026_-_background_briefing_notes.pdf