In the speech written by the government, it is expected that Her Majesty will announce plans to split up banks, bills to keep the UK exempt from Eurozone bailouts, the introduction of a drug driving offence, and moves towards televised court proceedings.
Big on the list though are controversial, Lib Dem-backed plans for Lords reform. If the plans go through, then around 80% of the 300 Lords will be democratically elected.
However, the Conservatives want discussion on the matter to be delayed, saying constitutional change is not the priority in a recession.
David Cameron said of the issue, "We are different parties, the Conservative Party and the Liberal Democrat party, and we don't always agree.”
"But I would argue in the last two years, the government has done a lot of things that needed to be done... although we might have had different views, we put them aside. We cut the deficit for the good of the economy."
This is only the second Queen’s Speech since the coalition formed in 2010, and it marks the grandest moment in the Parliamentary calendar.
However, it has proved far more contentious than usual this year, as many backbench Tory rebels have published an “alternative” speech, dissatisfied with current Tory plans. In it, they called for tax cuts and a referendum on our place in Europe.
Today’s Queen’s Speech, which takes place at around 11:30 this morning, takes place less than a week after the Conservatives and Liberal Democrats lost several hundred seats in the local elections.