(Bloomberg) -- Prime Minister Keir Starmer will use the upcoming King’s Speech to showcase his new government’s efforts to spur economic growth in the UK.
The speech, due to be delivered by King Charles III on July 17, will be the first since Labour won the general elections this month in a landslide on a pledge to prioritize growth. It marks the start of the parliamentary year, during which departments will aim to introduce more than 35 bills, according to a statement from the prime minister’s office.
The legislation will include a bill to strengthen the role of the Office of Budget Responsibility so that significant fiscal announcements will be properly scrutinized, according to the statement. Others include previously telegraphed plans to launch a National Wealth Fund to drive inbound investment, a Mission Control to help the UK switch to clean power by 2030, and open the recruitment of a new border security command.
“The task of national renewal will not be easy, and this is just the down payment on our plans for the next five years,” Starmer said. “But the legislation set out at the King’s Speech will build on the momentum of our first days in office and make a difference to the lives of working people.”
Since winning the elections on July 4, Starmer and his Chancellor of the Exchequer Rachel Reeves have spoken of the need to grow the economy. The first 100 days will see the government roll out reforms on areas from homebuilding to reforming the National Health Service, people in the prime minister’s entourage have told Bloomberg.
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