King Charles III Delivers His Speech at Opening of U.K. Parliament, Outlining New Government's Policies | WPN World People News

On the 17th, the UK Parliament conducted its State Opening, with King Charles III delivering the "King's Speech" to the House of Lords. Before the members of both chambers, he read out the legislative priorities of the "Keir Starmer Government," including plans to revitalize the economy, address severe housing shortages, and tackle the cost of living crisis. Additionally, the new government aims to mend the rifts caused by Brexit between the UK and the EU. Attendees included invited dignitaries such as foreign ambassadors to the UK.

King Charles III, wearing the "Imperial State Crown," was accompanied by Queen Camilla for the King's Speech, a highlight of the State Opening. The speech content is drafted by the new Cabinet and read by the monarch in the House of Lords, mainly revealing the bills and policy directions the new government intends to push in the new parliamentary session. Subsequently, both the House of Commons and the House of Lords will debate the planned bills.

The King's Speech mentioned plans to promote the "Fiscal Responsibility Bill," ensuring that major tax and spending decisions are scrutinized by the independent "Office for Budget Responsibility" (OBR). This tries to avoid problems like those produced by Prime Minister Liz Truss's 2022 budget announcement, which was released without OBR approval, resulting in significant market turmoil and a sharp fall in the pound.

In terms of economic policies, the speech also promoted the "National Wealth Fund Bill," the "Great British Energy Bill," the "Employment Rights Bill," and railway nationalization-related bills. The National Wealth Fund (NWF) will receive £7.3 billion in government funding and will lend through the UK Infrastructure Bank, with the expectation that every £1 of government investment will attract £3 in private investment. The government intends to establish the "Great British Energy" (GBE) company, a public enterprise headquartered in Scotland, focusing on clean and renewable energy.

The "Employment Rights Bill" includes measures to ban "zero-hour" labor contracts and the practice of "fire and rehire," which unfairly reduces labor costs. Railway nationalization will integrate public infrastructure with daily operating activities currently largely managed by private operators. Upon the expiration of operators' contracts, the railways will automatically revert to public ownership.

A notable aspect of the proposed legislation is the reform of the House of Lords. The Labour Party intends to abolish the legislative and voting rights of hereditary peers. The legitimacy of hereditary peers is debatable, with over 90 hereditary peers currently in the House of Lords, nearly half of whom are held by the Conservative Party.

Finally, King Charles III reiterated the UK's full support for Ukraine's NATO membership.