King's Speech: Inflation control key as pensions and IHT take back seat

New parliamentary session opened

The government will work closely with the Bank of England (BoE) as the UK continues to grapple with a troubled and impressionable economy, King Charles III has said.

Speaking at the State Opening of Parliament today (7 November), the King said the impact of Covid and the war in Ukraine had created "significant long-term challenges" for the UK. In his first King's Speech, he outlined the programme of legislation the government plans to progress in the next parliamentary session, which is likely to be the last before the next general election. "My ministers will support the BoE to return inflation to target by taking responsible decisions on spending and borrowing," the King said. "These decisions will help household finances, reduce public sector d...