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NHS England abolition; PSR merger into FCA; FOS reforms; cost of living in King’s Speech – reports

by Graham Simons
11 May 2026
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Abolishing NHS England, implementing some of the government’s 10 year health plan and the merger of the Payment Systems Regulator into the Financial Conduct Authority and Financial Ombudsman Service reforms are set to feature in the King’s Speech later this week, according to media reports.

Ahead of Wednesday’s speech, the BBC reports that legislation is required to deliver health secretary Wes Streeting’s commitment to abolish NHS England, and to implement some of the commitments in the government’s 10 Year health plan.

Other media reports indicate that a Financial Services Bill will resurrect plans to merge the Payment Systems Regulator into the Financial Conduct Authority and reform the Financial Ombudsman Service.

And there is also speculation that the King will announce bills intended at targeting the cost of living following criticism from some Labour MPs.

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