Labour has set out its legislative agenda for the coming parliamentary session in the first King's Speech under a Labour government for 14 years. The package features 40 pieces of proposed legislation covering a wide range of policy areas.
Key economic measures include a 'fiscal lock' requiring the Office for Budget Responsibility to assess major tax or spending changes, and a national wealth fund on a statutory footing to attract private investment. Pension reforms aim to consolidate small pots and introduce a value-for-money framework.
Housing and infrastructure plans include simplifying approval processes for critical projects and modernising planning committees. Employment rights legislation will ban zero-hours contracts and fire-and-rehire practices, improve sick pay, and establish fair pay agreements in social care.
Devolution measures will transfer powers from Westminster to local leaders over planning and transport. Rail services will be renationalised as contracts expire, with a new Great British Railways body overseeing track and trains. Energy plans include a state-owned GB Energy company and expanded Crown Estate investment powers.
Other bills cover border security with a new command to tackle criminal gangs, water company regulation with criminal liability for bosses, and sustainable aviation fuel support. The government confirmed it will not reverse the cancellation of the northern leg of HS2 but will improve east-west rail connectivity.
