LONDON: Britain's new Labour government said on Wednesday it would help the country overcome the cost-of-living crisis by focusing on wealth creation, as it laid out its plans for national renewal. King Charles III addressed parliament on Wednesday, detailing the legislative agenda of Prime Minister Keir Starmer's new government. The address outlined the government's plan to stabilise Britain's public finances and boost economic growth.
Addressing hundreds of MPs, the King said, “My government will seek a new partnership with both business and working people and help the country move beyond the challenges of rising living costs by prioritising wealth creation for all communities.” During the election campaign, Starmer promised to bring bold change to Britain. The speech, written by the Labour government, said the party would build more housing and infrastructure projects, strengthen workers' rights and formulate a new industrial strategy. King Charles III read this speech.
In a written introduction to the address, the prime minister urged patience and said change would require determined, patient work and serious solutions rather than easy answers and populist promises. The Labor Party won a landslide victory in the general election on July 4. Stormer has promised to fix the country's aging infrastructure and poor public services. However, he says he will not raise personal tax rates. The address included 40 bills, compared to only 21 bills in the previous address when the Conservative Party was in government.
The 40 bills cover everything from building houses to nationalising the railways and overhauling the electricity supply sector. The government said it would set up a national wealth fund to build Britain and overhaul planning rules that have hindered the building of new homes and infrastructure. The government promised stronger protections for workers, including a ban on a range of contracts. The government promised more power for local governments and better bus and rail services. Although Starmer stopped short of large-scale nationalisation of industries, he did mention plans to bring train operators into public ownership.
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