Labour pledge to nationalise the railways in King’s Speech

It would mark the first major change to national infrastructure from the new government.

As iNews reports, the Labour government have outlined the setting up of Great British Railways in the text that the King will read out at the State Opening of Parliament on 17 July.

Starmer, who became Prime Minister yesterday after Labour triumphed in a landslide victory in the general election, has been busy assembling his cabinet ahead of his tenure as leader of the country.

The 61-year-old appointed 22 Labour MPs and peers to key cabinet positions - including a record 11 women.

Angela Rayner is the new Deputy Prime Minister, David Lammy has been named as the new Foreign Secretary, and Rachel Reeves has been appointed the first ever female Chancellor.

Ahead of the general election campaign, Labour frontbenchers drew up a draft list of bills to be included in the King’s Speech.

They will finalise this legislation over the coming days, as well as the text of the actual speech itself.

Great British Railways is expected to become the holding company for all of the rail franchises as they are gradually taken into public ownership over the coming years when existing contracts with the private sector expire.

Other bills expected to be included in the agenda are a “fiscal responsibility lock” which will bar the Government from making major tax or spending announcements without oversight from the Office for Budget Responsibility, as well as a package of strengthened workers’ rights.

Sir Keir Starmer is also expected to enact a new aggressive programme of housebuilding which will require legislation to overhaul existing planning rules, and the King’s Speech will also likely feature bills on border security and street crime.

On Friday afternoon, former Prime Minister and Conservative Party leader Rishi Sunak confirmed that he will be stepping down as leader of the Tories following their disastrous performance at the polls.

Rishi Sunak steps down as Party leader.

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The party experienced their worst ever election loss this week, losing 250 seats.

In his speech outside Number 10, Sunak announced he would resign as leader of his party, but that this will only happen when formal arrangements for a successor have taken place.

He apologised to the country, saying: “I have heard your anger, disappointment and I take responsibility for this loss.”

Sunak also apologised to candidates and campaigners who have “worked tirelessly”, saying his party has not delivered.

He also thanked them for their efforts, and said he is “pained” by how many colleagues will no longer sit in the House of Commons.

Sunak said he believes the UK is “more prosperous, fairer and resilient than in 2010”.

He went on to pay tribute to the Keir Starmer, describing him as a “decent public-spirited man who I respect.”

Sunak finished by describing the country as the best in the world, saying that one of the most remarkable things about the UK is “how unremarkable it is”.