Charles III announces the renationalisation of British railways

LONDON (EFE).- Charles III announced this Wednesday the renationalization of the railways and the creation of a National Infrastructure Fund while reading out the legislative agenda of the new Labor government in the so-called King’s Speech, with which he inaugurated the legislature.

The monarch will open a session of Parliament for the second time since taking the throne on September 8, 2022, and the first with an executive from the Labour Party, which won the July 4 election after 14 years of Conservative rule.

Measures to guarantee “economic stability”

The 75-year-old sovereign has listed a programme of more than 35 laws to be approved in the coming months, including urban planning reforms to accelerate housing and infrastructure construction.

When reading a speech written by the executive, the monarch stated that “his government” would act “in the service of the country”, with a legislative program “focused on the fulfillment of different missions” whose basis is the “guarantee of the security of the State,” “economic stability” and “justice for all.”

Charles III, with his wife Camilla on the throne next to him, told the MPs and peers gathered in the House of Lords (Upper House) that the executive would submit all budgets under the supervision of the Office for Budget Responsibility (OBR) to guarantee the balance of public finances.

State railway management

To strengthen state management of the railways, aimed at resolving the fragmentation of the network since its privatisation in the 1990s, the Great British Railways unit will be established, which will ensure it provides better services to passengers.

A law to improve bus services in the regions is also proposed, as well as English devolution, which would transfer powers to local councils to boost the local economy.

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

Symbolic vote

In the speech, Raja said that a law would be passed to create a border security unit to combat migrant smuggling and to accelerate the transition to clean energy by 2030.

The executive, which has an absolute majority, also wants to introduce a regulator for football and artificial intelligence.

Following the monarch’s intervention, representatives in the (less commonly elected) House of Commons would begin several days of debate that would culminate in a symbolic vote.