Here BBC News Online sets out the winners and losers in the Queen's speech, the political reaction and the changes that will affect people's lives.
During a ceremony shrouded in pomp and history, the Queen told parliament of the laws the government intends to bring in next year.
Lords reform dominated coverage of the Queen's speech and will remain in the headlines as hereditary peers enjoy their final fling.
The other main areas mentioned were health, the welfare system and education - plus lowering of the gay age of consent.
The Queen unveiled government plans for business, including the first Bill dealing directly with e-commerce.
A number of much-promised areas of reform received only draft Bills, most notably the deputy prime minister's transport plans.
The Conservatives said the plans missed the people's priorities. But nationalists were delighted at the absence of Bills for Scotland and Wales.
In a year dedicated to getting rid off power from the past, a number of important changes had been made to the ancient ceremony of the opening of parliament.