To be granted British citizenship, people already have to swear the following oath:
"I, [name], [swear by Almighty God] [do solemnly, sincerely and truly affirm and declare] that, on becoming a British citizen, I will be faithful and bear true allegiance to Her Majesty Queen Elizabeth II, her heirs, and successors, according to law."
Since 2004, they also have to pledge the following:
"I will give my loyalty to the United Kingdom and respect its rights and freedoms. I will uphold its democratic values. I will observe its laws faithfully and fulfil my duties and obligations as a British citizen."
Does anybody know what's so 'new' about the current proposals? What else should any new oath and pledge include?