Charles III announced this Wednesday renationalization of the railway and creation of a national infrastructure fund when reading the legislative agenda of the new Labour government in the so-called King’s Speech with which he opened the legislature.

Monarch opened the parliament session for the second time since his accession on 8 September 2022 and for the first time under the leadership of the Labour Party led by Keir Strarmer, who won the election on 4 July after 14 years of Conservative rule.

The 75-year-old sovereign declared a program of more than 35 laws that will be approved in the coming monthswhich also includes urban planning reform to speed up housing and infrastructure construction.

Reading a speech written by the executive, the monarch said that “your government” will act “in the service of the country” with a legislative program “oriented toward the fulfillment of various missions” based on ensuring “state security,” “economic stability,” and “justice for all.”

Charles III, accompanied by his wife Camilla on the adjacent throne, informed the MPs and peers assembled in the House of Lords (upper part) that The executive authority places all budgets under the supervision of the Budget Responsibility Office. (OBR, in English) to ensure that public finances are balanced.

In order to strengthen state management of the railways, aimed at solving the problem of fragmentation of the network since its privatization in the 1990s, The Great British Railway company will be created. which will ensure the provision of higher quality services to passengers.

Also offered law on improving bus service in the regions, and English devolution, which would hand over powers to local councils to stimulate the local economy.

In addition to the sovereign wealth fund to attract private investment in infrastructure, the government will promote other measures to promote economic growth, while offering “better conditions for workers while prohibiting exploitative labor practices.”