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17 July King's Speech To Outline New Gov'ts Legislative Priorities

UK
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The State Opening of Parliament takes place on 17 July, with King Charles III delivering the King's Speech from the throne in the House of Lords at ~1130BST (0630ET, 1230CET). The King's Speech is prepared by the new gov't of PM Sir Keir Starmer and outlines its legislative aims for the coming parliament. The Speech will detail 35+ draft laws, with some listed below:

  • New legislation will be unveiled intended to ensure tough fiscal discipline. The legislation will also empower the Office for Budgetary Responsibility (OBR) to deliver forecasts outside of 'major fiscal events' i.e. full budget statements.
  • The establishment of a 'National Wealth Fund', supported by GBP7.3bn of taxpayer money, is intended to encourage private investment in future technologies and industry.
  • The creation of Great British Energy, a publicly-owned company intended to boost UK energy production and offer cheaper power to consumers. Gov't claims the initial GBP8.3bn capitalisation over the course of the parliament will be funded by a windfall tax on O&G firms.
  • The Border Security Bill is intended to bring counter-terrorism powers to bear against gangs organising illegal crossings of the English Channel. Polling shows immigration remains one of the top concerns for many UK voters, making it politically essential for the new govt to be seen to be acting fast.
  • There is the prospect of non-market moving but important bills that could impact the UK's long-term political landscape. These include lowering the voting age to 16 for general elections, reforming the upper House of Lords, and devolving greater powers to regional and city mayors.
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The State Opening of Parliament takes place on 17 July, with King Charles III delivering the King's Speech from the throne in the House of Lords at ~1130BST (0630ET, 1230CET). The King's Speech is prepared by the new gov't of PM Sir Keir Starmer and outlines its legislative aims for the coming parliament. The Speech will detail 35+ draft laws, with some listed below:

  • New legislation will be unveiled intended to ensure tough fiscal discipline. The legislation will also empower the Office for Budgetary Responsibility (OBR) to deliver forecasts outside of 'major fiscal events' i.e. full budget statements.
  • The establishment of a 'National Wealth Fund', supported by GBP7.3bn of taxpayer money, is intended to encourage private investment in future technologies and industry.
  • The creation of Great British Energy, a publicly-owned company intended to boost UK energy production and offer cheaper power to consumers. Gov't claims the initial GBP8.3bn capitalisation over the course of the parliament will be funded by a windfall tax on O&G firms.
  • The Border Security Bill is intended to bring counter-terrorism powers to bear against gangs organising illegal crossings of the English Channel. Polling shows immigration remains one of the top concerns for many UK voters, making it politically essential for the new govt to be seen to be acting fast.
  • There is the prospect of non-market moving but important bills that could impact the UK's long-term political landscape. These include lowering the voting age to 16 for general elections, reforming the upper House of Lords, and devolving greater powers to regional and city mayors.