00:00 In a historic moment, King Charles III delivered the first King's speech in the United Kingdom
00:07 in over seven decades.
00:09 This address outlined the legislative agenda set for the upcoming parliamentary session
00:14 as scheduled by Prime Minister Rishi Sonak.
00:17 King Charles, accompanied by Queen Camilla, arrived at the Palace of Westminster for the
00:23 state opening of Parliament.
00:25 The last time Parliament convened in such a manner was back in May 2022, under the leadership
00:31 of then Prime Minister Boris Johnson, with Queen Elizabeth II on the throne.
00:38 Outlining the legislative agenda planned by Prime Minister Sonak for the new parliamentary
00:42 session at the House of Lords, King Charles III said that his ministers would make the
00:47 difficult but necessary long-term decisions to change this country for the better.
00:52 King Charles said, "It is difficult of the legacy of service and devotion of this country
00:58 set by my beloved mother, the late Queen, that I delivered this, the first King's speech
01:04 in over 70 years.
01:06 The impact of COVID and the war in Ukraine have created significant long-term challenges
01:11 for the United Kingdom.
01:13 That is why my government's priority is to make the difficult but necessary long-term
01:18 decisions to change this country for the better."
01:21 King Charles addressed pressing issues during his King's speech.
01:25 On inflation, he emphasised the government's commitment to enhancing economic growth, reducing
01:30 inflation and alleviating the costs of living for families.
01:35 Education reforms aimed for strengthening the long-term prospects for young people were
01:40 also highlighted.
01:41 Additionally, plans to reform the housing market, making it more affordable for leaseholders
01:47 and addressing homeowners' concerns about service charges were outlined as crucial steps
01:52 in the legislative agenda.
01:55 As part of the significant reforms, the lease extension term will be extended to an impressive
02:00 990 years, a substantial increase for the previous 90 years applicable to both houses
02:07 and flats.
02:08 Ground rent will be reduced and the requirement for new leaseholders to own their property
02:13 for a minimum of two years to access these benefits will be eliminated.
02:17 These changes aim to provide greater security and affordability for homeowners.
02:27 [MUSIC PLAYING]
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