King Charles III's speech today marked the 2024 State Opening of Parliament and he revealed the key Labour policies that could affect homeowners across the UK.
The King's Speech outlines the government's plans for the upcoming parliamentary session and this was only the second speech King Charles has delivered.
The key policies included Labour's key planning reforms to help them build 1.5 million homes, the establishment of the publicly owned Great British Energy and a Water regulations bill to help stop water pollution.
Planning and Infrastructure Bill
As part of Labour's plans to build 1.5 million homes a new Planning and Infrastructure Bill was introduced to “get Britain building”.
It was announced by King Charles that the government "will also pursue sustainable growth by encouraging investment in industry, skills and new technologies".
Keir Starmer stated during the processions: “The current planning regime acts as a major brake on economic growth.
“The Planning and Infrastructure Bill will play a key role in addressing this constraint, unlocking more housing and infrastructure across the country and supporting sustained economic growth”.
Great British Energy
One of Labour's key policies was to introduce Great British Energy, a publicly-owned energy company focused on clean power projects across the UK.
King Charles stated: "[The Government] recognises the urgency of the global climate challenge and the new job opportunities that can come from leading the development of the technologies of the future.
“It is committed to a clean energy transition which will lower energy bills for consumers over time.
“A Bill will be introduced to set up Great British Energy, a publicly owned clean power company headquartered in Scotland, which will help accelerate investment in renewable energy such as offshore wind.”
Labour claims this initiative will provide the UK freedom from overseas fossil fuel dependence, as well as saving money on energy price rises and address climate change.
Water (Special Measures) Bill
Legislation tackling water companies was also announced during the King's speech as granting water regulator's powers will be introduced through the Water (Special Measures) Bill.
Water companies have been criticised for polluting local water supplies and for seeking to raise prices by up to 91% from 2025.
King Charles said: “My Government recognises the need to improve water quality and a Bill will be introduced to strengthen the powers of the water regulator."
Key measures include personal liability for water company executives who engage in illegal activities, granting the water regulator the power to ban bonus payments and introducing a new code of conduct for water companies.
Additionally, the bill will enforce automatic and hefty fines for violations and implement real-time monitoring systems for independent checks on sewage outlets.
