U.K.’s Labour Government Maps Out Plan to Prioritize Economic Growth in King’s Speech
Britain’s new Labour Party government promised to calm the country’s febrile politics and ease its cost-of-living crisis as it set out its plans for “national renewal” at the grand State Opening of Parliament on Wednesday.
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00:00My government will govern in service to the country. My government's legislative programme
00:28will be mission-led and based upon the principles of security, fairness and opportunity for
00:34all. Stability will be the cornerstone of my government's economic policy and every
00:41decision will be consistent with its fiscal rules. It will legislate to ensure that all
00:49significant tax and spending changes are subject to an independent assessment by the Office
00:55for Budget Responsibility. My ministers will get Britain building, including through planning
01:01reform as they seek to accelerate the delivery of high-quality infrastructure and housing.
01:10They will also pursue sustainable growth by encouraging investment in industry, skills
01:17and new technologies. It will seek to establish the appropriate legislation to place requirements
01:24on those working to develop the most powerful artificial intelligence models.
01:31My government believes that greater devolution of decision-making is at the heart of a modern
01:36dynamic economy and is a key driver of economic growth, and my ministers will introduce an
01:43English devolution bill. Legislation will be introduced to give new powers to metro
01:51mayors and combined authorities. A bill will be introduced to set up Great British Energy,
01:58a publicly owned clean power company headquartered in Scotland, which will help accelerate investment
02:06in renewable energy such as offshore wind. A bill will be introduced to modernise the
02:13asylum and immigration system, establishing a new border security command and delivering
02:20enhanced counter-terror powers to tackle organised immigration crime.
02:26My government will improve the National Health Service as a service for all, providing care
02:31on the basis of need, regardless of the ability to pay. It will seek to reduce the waiting
02:38times, focus on prevention and improve mental health provision for young people. It will
02:46ensure mental health is given the same attention and focus as physical health. My government
02:52will continue to give its full support to Ukraine and its people, and it will endeavour
02:58to play a leading role in providing Ukraine with a clear path to NATO membership.
03:08My government will seek to reset the relationship with European partners and work to improve
03:13the United Kingdom's trade and investment relationship with the European Union. My ministers
03:21will seek a new security pact to strengthen cooperation on the mutual threats faced by
03:28the United Kingdom and the European Union. My government will play its part in trying
03:36to secure long-term peace and security in the Middle East. It is committed to a two-state
03:43solution with a safe and secure Israel, alongside a viable and sovereign Palestinian state.