The British government has outlined two new bills to overhaul financial regulation and halve the nation's debt levels.
The plans were outlined in the Queen's Speech at the annual state opening of Britain's Parliament.
The BBC reports that the Fiscal Responsibility Bill commits the government to halving its budget deficit within four years.
The Financial Services and Business Bill strengthens the Financial Services Authority's (FSA) ability to take action over the pay of those in financial services, following the recent outcry over bonuses.
It also calls for a new Council for Financial Stability and gives the FSA greater powers to regulate banks.
