King Charles III on Wednesday attended the State Opening of the UK Parliament, where he announced the newly elected Labour government's plans for the new political term.
Improving living standards for working people through vibrant economic growth will be the main focus of the new 40 draft legislations announced by the king.
"Stability will be the cornerstone of my government's economic policy and every decision will be consistent with its fiscal rules," Charles III said, adding that the government will enact legislation to ensure that all significant tax and spending changes are subject to an independent assessment by the Office for Budget Responsibility.
"Securing economic growth will be a fundamental mission. My Government will seek a new partnership with both business and working people and help the country move on from the recent cost of living challenges by prioritizing wealth creation for all communities.
"My Ministers will establish an Industrial Strategy Council. It is my Government's objective to see rising living standards in all nations and regions in the United Kingdom."
In a press release before the king's speech, Prime Minister Keir Starmer pledged to "take brakes off Britain" with the bills Charles III would announce.
Following the speech, Starmer said: "Today's King's Speech sets out how we are delivering change for our country. Serving working people. Creating wealth in every community. National renewal starts now."
The package of bills focuses on growing the economy through better transport, more jobs, and "turbocharging" the building of houses and infrastructure.
Charles III briefly read out draft laws, including plans to nationalize the railways and accelerate the delivery of "high-quality infrastructure and housing."
The government is also looking to "modernize" the asylum and immigration system, as well as remove the VAT exemption for private school fees.
The British government will "play its part" in trying to secure "long-term peace and security in the Middle East," the king says.
About the Gaza conflict, the king says the government is "committed" to a two-state solution that includes "a safe and secure Israel alongside a viable and sovereign Palestinian state."
