While far-reaching reforms to the pension system were at the heart of the Queen’s Speech, Help to Buy, the national minimum wage and marriage tax were also mentioned.

In her address to MPs, the Queen said: “My government’s legislative programme will continue to deliver on its long-term plan to build a stronger economy and a fairer society.

“To strengthen the economy and provide stability and security, my ministers will continue to reduce the country’s deficit, helping to ensure that mortgage and interest rates remain low.”

Below is a round up of the key points:

• An updated Charter for Budget Responsibility will be brought forward to ensure that future governments spend taxpayers’ money responsibly.

• New measures will be introduced to further increase the personal allowance and to freeze fuel duty.

• Measures will be brought forward for a married couple’s allowance, which will recognise marriage in the tax system.

• Legislation will impose higher penalties on employers who fail to pay their staff the minimum wage.

• Legislation will be brought forward to tackle National Insurance contribution avoidance and to simplify its collection from the self-employed.

• Major reforms will be implemented to the electricity market and to reduce the use of plastic carrier bags to help protect the environment.

• Pension reforms will allow for innovation in the private pensions market to give greater control to employees, extend the ISA and Premium Bond schemes and abolish the savers’ 10 pence tax rate.

• Ministers will continue to promote the Help to Buy and Right to Buy schemes to support home ownership.

To read the speech in full, click HERE.