The king's speech sounded a bit like Labour governments of old. But only a bit

The measures outlined for the government's mission include more nationalization, central planning control, worker empowerment, an industrial strategy council, and a national wealth fund for infrastructure investment, aligning with a social-democratic approach under Keir Starmer.

The economic policy shift towards interventionism under Labour's plan will not involve heavy borrowing for growth, with major tax and spending decisions needing approval from the OBR, aiming to focus on supply-side weaknesses like infrastructure, investment, productivity, and skills.

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