The Labour government will unveil 35 new bills in its King’s Speech on Wednesday, including giving more powers to local leaders and to the Office for Budget Responsibility.
The government's first set of laws will prioritise growth, according to a press release from No.10, and support delivery of the Labour’s first steps and missions to rebuild Britain, as well as focusing on improving the prosperity of the country and living standards of working people.
“Departments are working on more than 35 bills to deliver an ambitious parliamentary session that will be built on a bedrock of economic security, to enable growth that will improve the prosperity of our country and the living standards of working people,” the press release said.
The package of bills will “focus on growing the economy through turbocharging building of houses and infrastructure, better transport, more jobs and securing clean energy – helping to make every part of the country better off”, No.10 added.
One of the bills will strengthen the role of the OBR, “meaning significant fiscal announcements must be properly scrutinised and that taxpayers’ money is respected”.
This will “ensure nobody can play fast and loose with the public finances ever again”, No.10 said.
This aims to follow through on Labour's manifesto promise that Labour would "unlike the Conservatives...never sideline the Office for Budget Responsibility (OBR) for political convenience".
"Instead, we will strengthen the role of the OBR", the manifesto said. "Every fiscal event making significant changes to taxation or spending will be subject to an independent OBR forecast."
Another bill will “hand the power back to local leaders who know what is best for their areas” to “empower regions to deliver change for their communities”. Labour's manifesto said the party would "transfer power out of Westminster, and into our communities, with landmark devolution legislation to take back control".
Labour is also planning to introduce an artificial intelligence bill on Wednesday to enhance regulation of emerging technologies, with a focus on large language learning models like ChatGPT, according to the FT.
In the No.10 press release, prime minister Keir Starmer said: “Our work is urgent. There is no time to waste. We are hitting the ground running by bringing forward the laws we will need to rebuild our country for the long-term – and our ambitious, fully costed agenda is the downpayment on that change.
“From energy, to planning, to unbreakable fiscal rules, my government is serious about delivering the stability that is going to turbo charge growth that will create wealth in every corner of the UK.
“The task of national renewal will not be easy, and this is just the down payment on our plans for the next five years, but the legislation set out at the King’s Speech will build on the momentum of our first days in office and make a difference to the lives of working people.”