Regulation is the watchword for the government over the next 18 months, with bills aimed at cutting red tape and extending consumer and employee protection contained in the Queen's Speech.

The Regulatory Reform Bill will enable more reforms to be delivered through Regulatory Reform Orders by removing some of the restrictions on their use and widening their scope to delivering non-controversial measures for simplification, and a new order-making power will be introduced for the implementation of uncontroversial law reform.

And some of the proposals contained in Philip Hampton's report on rationalising private sector regulators will be introduced, including the merger of several regulators, and a more risk and advice-based approach to inspection.

The Consumer Credit Bill will update existing legislation relating to the licensing of consumer credit businesses, and will provide regulators with more proportionate and effective powers, while giving consumers better access to dispute resolution. 

The financial limit below which regulation currently applies will also be removed, allowing regulation of all consumer credit on the same basis.

And the Regulation of Financial Services Bill will extend the boundaries of regulation covered by the Financial Services Authority to include home reversion plans and Sharia-compliant home finance arrangements. 

Consumer protection will be extended to elderly consumers considering home reversion plans, while the legislation would also aim to ensure that consumers are able to access all elements of the growing Sharia-compliant home finance products market.

Ministers have also reintroduced the Equality Bill from the last parliament, which will create the new Commission for Equality and Human Rights through a merger of the Commission for Racial Equality, the Disability Rights Commission and the Equal Opportunities Commission. 

But in addition, it would correct an anomaly meaning that Jews and Sikhs are protected against discrimination in the provision of goods and services, and would introduce a "gender duty" on public authorities requiring them to work towards eliminating discrimination between men and women, and extending the prohibition of sex discrimination.

And the Parental Rights Bill will aim to extend the period of statutory maternity pay from 26 to 39 weeks from April 2007. Some of this time will be transferable from the mother to the father, while a consultation will be launched to determine which other groups with caring responsibilities should be given the right to flexible working arrangements.