{"id":213865,"date":"2026-05-14T11:36:00","date_gmt":"2026-05-14T15:36:00","guid":{"rendered":"https:\/\/testing.news-you-need.com\/index.php\/2026\/05\/14\/uk-bills-target-late-payments-and-cybersecurity-threats\/"},"modified":"2026-05-14T11:40:09","modified_gmt":"2026-05-14T15:40:09","slug":"uk-bills-target-late-payments-and-cybersecurity-threats","status":"publish","type":"post","link":"https:\/\/testing.news-you-need.com\/index.php\/2026\/05\/14\/uk-bills-target-late-payments-and-cybersecurity-threats\/","title":{"rendered":"UK Bills Target Late Payments and Cybersecurity Threats"},"content":{"rendered":"

UK Bills Target Late Payments and Cybersecurity Threats<\/a><\/p>\n

https:\/\/www.pymnts.com\/news\/regulation\/2026\/uk-bills-target-late-payments-and-cybersecurity-threats\/<\/a><\/p>\n

Publish Date: 2026-05-14 11:36:00<\/a><\/p>\n

Source Domain: www.pymnts.com<\/a><\/p>\n

Author: <\/a><\/p>\n

Using an unordered list, summarize the following article with between 4 and 8 key points. Cybersecurity, a voluntary digital ID and protections for small businesses will be the subjects of bills introduced in the United Kingdom\u2019s Parliament.<\/p>\n

These bills were highlighted in the King\u2019s 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.
\nThe State Opening of Parliament is a ceremonial event that marks the start of a new parliamentary year and outlines the government\u2019s agenda for the session. The King\u2019s Speech is written by the government and highlights its proposed legislation, according to the U.K. Parliament\u2019s website.
\nThe King\u2019s Speech included 37 bills, according to background briefing notes posted by the Prime Minister\u2019s Office.
\nAmong them are the Small Business Protections (Late Payments) Bill, which King Charles III said will \u201ctackle late payments.\u201d 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.
\nAnother bill, the Regulating for Growth Bill, will \u201creduce the burden of unnecessary regulation through innovation,\u201d according to the King\u2019s Speech. This bill would require consideration of growth in regulatory decision-making, without undermining regulator\u2019s core objectives, and would create \u201csandboxing powers\u201d that would allow rules to be relaxed so that new products and technologies can be tested in real-world settings, per the briefing notes.Advertisement: Scroll to Continue <\/p>\n

A third bill, the Digital Access to Services Bill, will introduce a Digital ID that will \u201cmodernize how citizens interact with public services,\u201d 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.
\nAnother bill, the Cyber Security and Resilience Bill, will \u201cimprove the country\u2019s defences against cyber-security threats,\u201d according to the King\u2019s Speech. This bill would expand existing cybersecurity regulations to cover many managed IT companies, data centers, energy companies and critical suppliers to essential services; require organizations to report harmful cyber incidents within 24 hours; and in cases of serious breaches, impose tougher penalties based on a company\u2019s turnover, per the briefing notes.
\nAfter the King\u2019s Speech, the new parliamentary session starts, and members of both the House of Lords and the House of Commons debate the content of the speech and introduce the bills. Those debates are set to begin Thursday and continue for several days, according to the U.K. Parliament\u2019s website.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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