EXECUTIVE SUMMARY This Queen’s Speech focuses on the priorities of the great British public. The Speech sets out how the Government is growing the economy to address the cost of living: ● We are already providing support to families worth over £22 billion in 2022-23 to help with cost of living pressures. The Government will not hesitate to take further steps to support households if needed. We will continue to focus on bringing forward measures to help people into work, which is the best approach to managing the cost of living long term. ● We have a strong labour market, with unemployment back to below its prepandemic rate, and we are supporting people into high-skilled, well-paid work through our multi-billion pound Plan for Jobs. ● The fiscal outlook remains uncertain, which is why we must continue with our work to repair the public finances and return them to a sustainable path. ● We will regenerate our towns and cities, shifting power and accountability to local leaders to improve those areas, drive economic growth, and give communities a louder voice to deliver the ambitions set out in our landmark Levelling Up White Paper. ● We will deliver a stronger and more highly performing education system that provides young people with the skills and knowledge they need to fulfil their potential, no matter where they live. ● We will complete the establishment of the UK Infrastructure Bank, utilising its £22 billion financial capacity to support growth, improve connections across the country and help level up the UK whilst supporting our transition to net zero by 2050. ● We will deliver a more secure, homegrown energy system that is cleaner and more affordable. ● We will continue to deliver improvements to transport networks across the UK, providing for reliable services, reducing journey times and spreading economic growth to all regions. ● We will modernise business rates, creating a fairer and more accurate system that will promote investment, productivity and decarbonisation.
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