King’s Speech 2024: Economic affairs, business and trade

The Labour Party has made increasing economic growth one of its main missions for government and has outlined a series of policy initiatives designed to achieve this and create “good jobs and productivity growth in every part of the country”. 

Amongst other things, Labour has proposed to implement an industrial strategy and establish an industrial strategy council to scrutinise the government and report on its progress in achieving its industrial priorities. It has proposed a strengthening of workers’ rights, designed to “make work secure” and deliver a “genuine living wage”. And it has proposed to strengthen the role of the Office for Budget Responsibility, to ensure that all major tax and spending decisions are subject to an independent forecast by the body. 

The Library’s briefings for the King’s Speech draw on the Labour Party’s manifesto and other material in the public domain. They have been written in advance of the 2024 King’s Speech to help members of the House of Lords prepare for the debate on the speech. They do not constitute official information about the government’s intentions or provide a complete list of bills to be announced.