During the State Opening of Parliament, King Charles confirmed the UK Government's focus on oil and gas expansion through a new bill intended to increase oil and gas licensing. The policy's inclusion in the King's Speech signals a commitment to bolstering the sector and ensuring its sustained growth in the coming years.

While the government emphasized the importance of transitioning to net-zero by 2050 without overburdening households and attracting high levels of investment in renewable energy, it also emphasized the need for ongoing development in the oil and gas sector. The Conservative Party's move to mandate an annual licensing round aims to solidify support for new extraction and preempt the Labour Party's pledge to end new oil and gas licensing rounds.

Environmental campaigners have expressed frustration, citing concerns about the potential impact on global climate commitments. However, the government has justified its stance, highlighting the importance of maintaining energy security and managing energy costs for consumers.

In addition to the focus on the oil and gas industry, the King's Speech touched on various other policy areas, including 'pro-motorist' measures and initiatives related to homes and rental properties. The government's emphasis on addressing issues related to landlords, renters, and leaseholds underscores its efforts to improve housing conditions and ensure fairness in the rental market.