UK’s latest Labour administration unveils strategy to boost economy in King’s Speech

The new Labour Party government in Britain, led by Prime Minister Keir Starmer, is expected to unveil its plans for the upcoming year in the King’s Speech to Parliament on Wednesday. Starmer aims to kickstart economic growth and create wealth across the country without raising personal taxes, emphasizing the need for bold change at a modest cost.

The King’s Speech, a key event during the State Opening of Parliament, outlines the government’s legislative agenda. This year’s speech will include over 35 bills, covering a wide range of issues from infrastructure improvements to nationalizing railways and decarbonizing the nation’s power supply with a publicly owned green energy firm.

Among the anticipated measures are giving more powers to local government, ensuring independent scrutiny of all government budgets in advance, strengthening border security, regulating artificial intelligence development, and potentially lowering the voting age from 18 to 16, in line with Labour’s election promises. The government may also address reforming the House of Lords by removing hereditary members and setting a retirement age of 80.

While many of Starmer’s proposed changes diverge from the previous Conservative government’s policies, there is a possibility of continuing former Prime Minister Rishi Sunak’s plan to raise the minimum age for buying tobacco gradually. Despite the royal pomp and ceremonial trappings surrounding the State Opening of Parliament, the King’s Speech itself is not dictated by the monarch but reflects the government’s agenda and priorities.