King's Speech shows Keir Starmer is intent on undoing Liz Truss's economic 'curse'

Two years after Liz Truss’s disastrous spell in government plunged the country into an economic crisis, yesterday’s King’s Speech included legislation specifically designed to reassure any investors still nervous about putting their money into Britain.

The Budget Responsibility Bill will “ensure that all significant tax and spending changes are subject to an independent assessment by the Office for Budget Responsibility”, King Charles said, after stressing “stability will be the cornerstone of my government’s economic policy”.

The legislation might as well have been called the No More Truss Irresponsibility Bill. She was only in office for 49 days, but still the legacy of her ‘interesting times’ lingers.

At 1,421 words long, the King’s Speech, which outlined a total of 39 Bills, was the longest in 21 years. Clearly, there is much to do.

A casual observer, listening in for the first time, may have found their mind beginning to wander as Charles spoke of a “modernisation committee” which would be “tasked with driving up standards, improving work practices and reforming procedures” in the Commons. It may have been worthy, but it was also rather dry.

SNP ‘pleased’

There were important announcements: the Bill establishing GB Energy, a publicly owned company to be based in Scotland, of which we need to hear more and quickly; a Border Security, Asylum and Immigration Bill; and legislation to renationalise nearly all passenger rail services. However, it was all rather business-like and unpopulist.

Even the SNP’s response lacked the fiery rhetoric of old, with Deputy First Minister Kate Forbes saying she was “pleased” that Keir Starmer’s language about resetting relations between Westminster and the devolved administrations had been reflected in the speech.

Younger voters, raised on years of SNP-Conservative mudslinging, might find such pleasantries a little disconcerting. Isn’t politics supposed to be about tearing the other side down with devastating soundbites?

The saying “may you live in interesting times” is phrased as a blessing but meant as a curse. Starmer is clearly intent on ushering in the opposite: dull and boring times, perhaps, but serious and, we hope, effective in finally turning the country around after long years of decline.