In the King’s Speech today, King Charles began by honouring his mother, Queen Elizabeth, for her remarkable service and dedication to the nation.
The King acknowledged the significant challenges posed by the ongoing COVID-19 pandemic and Russia’s invasion of Ukraine, emphasising that the government’s top priority is to make crucial, albeit “difficult”, long-term decisions to drive positive change in the country.
The initial policy focus of this speech was centred on the nation’s economy.
King Charles outlined the government’s commitment to address inflation and reduce the cost of living for families while supporting businesses in creating new jobs and making investments.
The King stressed that the government will continue to work alongside the Bank of England to manage rising prices through prudent financial decisions.
These measures, he explained, are not only aimed at improving household finances but also at decreasing public sector debt and ensuring the nation’s financial stability.
King Charles highlighted the government’s intentions regarding new North Sea oil and gas licences.
The King announced that legislation would be introduced to enhance the country’s energy security, thereby reducing its dependence on unpredictable international energy markets and potentially unreliable foreign suppliers.
King Charles said: “Alongside this, my ministers will seek to attract record levels of investment in renewable energy sources and reform grid connections building on the UK’s track record of decarbonising faster than other G7 economies“.
