George Osborne pays tribute to Ed Miliband for coming to today's debate. The chancellor says doing so soon after the election defeat earns him the respect of the whole House. He says that despite the fierce arguments during the election campaign Mr Miliband's integrity or belief in his convictions was never in doubt.

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George Osborne is up now. He says the Queen's Speech was unwavering in its determination to deliver sound public finances and economic security, without which nothing else is possible. We will govern as the party for working people, he says. 

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Shadow chancellor Chris Leslie claims George Osborne is measuring up the wallpaper for No 10 Downing Street already. He urges the chancellor to put Britain's interests above his own. 

Progress in the economy is still fragile, says Chris Leslie. He says the numbers having to work a second job have increased "dramatically" as are the numbers of pensioners returning to the workplace. 

The Institute for Fiscal Studies has, external  been looking in more detail at the government's proposed spending cuts:

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Is the chancellor focusing on the long-term needs of the economy or his own long-term future, asks Labour's Chris Leslie. 

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The emergency Budget in July will be crucial for productivity and the health of the economy, says shadow chancellor Chris Leslie. He wants to the Office for Budget Responsibility to report on how the Budget might effect productivity and living standards. 

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Shadow chancellor Chris Leslie says he wants to know whether the chancellor plans to cut the top rate of tax, for those earning over £150,000. He offers to give way to George Osborne if he can provide an answer, an offer the chancellor declines to take him up on. 

The Queen's Speech, the shadow chancellor goes on to argue, was high in rhetoric but largely "diversion and distraction". 

Mr Leslie also argues that while the Conservatives won a majority, they do not have a mandate for specific departmental cuts because they did not set out before the election where these would fall. 

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Chris Leslie, Labour's new shadow chancellor, is up first in today's Queen's Speech debate. He says he is not delivering the address he wanted to having lost the election, but promises to hold the government to account. 

"Cutting through the spin" in the Queen's Speech, Mr Leslie says a number of the proposals are either already in place or not what they seem. 

MPs are discussing the Queen's Speech, with a focus on the economy. George Osborne will be the main government speaker. Ex-Labour leader Ed Miliband is in the chamber for the debate.

The panel have been picking over the revelations in Patrick Wintour's story of the Labour election campaign in today's Guardian. Read the article here., external

Robin Brant
Political Correspondent

The government has written to the independent body which sets MPs pay in a fresh submission to try to stop it proposing a 10% pay rise for members of Parliament.

The leader of the commons Chris Grayling wrote to IPSA this morning. The letter is expected to be made public shortly. The prime minister's official spokesman said it was to "underline" a submission made in November last year in which it objected to the proposed increase.

Leader of the Commons Chris Grayling has criticised a planned BBC reality show, warning the corporation against exploiting the participants.

Almost 26,000 people have signed a petition urging the BBC not to broadcast "Britain's Hardest Grafter" which pits low-paid workers against each other to win £15,000.

Asked if he would schedule a debate on whether the broadcaster was "fulfilling its objectives on airing programmes of quality and distinctiveness" in light of the programme, Mr Grayling told MPs: 

First Minister's Questions is getting started in the Scottish Parliament. You can follow proceedings here .