Labour has promised to “take the brakes off Britain” as it outlines its plans for government in the King’s Speech later today.

More than 35 bills are expected to be unveiled during the event, which will see King Charles read out the list of policies and pledges from the Houses of Parliament.

The party said the focus would be on “unlocking growth and improving living standards for working people” in what it called an “ambitious legislative agenda”, echoing the “first steps” Sir Keir Starmer campaigned on in the general election.

Analysis: King’s Speech will be biggest symbol of change Labour hopes to bring

Speaking ahead of the announcements, the prime minister said: “For too long people have been held back, their paths determined by where they came from – not their talents and hard work.

“I am determined to create wealth for people up and down the country. It is the only way our country can progress, and my government is focused on supporting that aspiration.”

It is not clear yet what all the bills will be, but Downing Street confirmed a number of measures on the eve of the speech.

They include legislation to bring rail services back into public ownership when their current private contracts expire and the establishment of a new public body called Great British Railways to oversee both the services themselves and fares.

A Better Buses Bill will also be introduced, giving local authorities more power to franchise their services, as well as lifting restrictions on creating new publicly owned bus operators.

Long-trailed planning reforms are expected to be outlined to help with the building of houses and infrastructure, and a new English Devolution Bill will transfer further powers to local leaders.

Sir Keir said: “Today’s new laws will take back control and lay the foundations of real change that this country is crying out for, creating wealth in every community and making people better off – supporting their ambitions, hopes and dreams.”

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The now leader of the Opposition, former prime minister Rishi Sunak, said the Conservatives would not “oppose for the sake of it” as Labour pushes forward with its plans, but it was their “responsibility” to speak up and hold the new government to account.

When MPs debate the King’s Speech in parliament on Wednesday, Mr Sunak is expected to say: “[Labour] tapped into the public’s desire for change, but they must now deliver change, and we on this side of the House will hold them accountable for delivering on the commitments they made to the British people.

“The Labour Party promised no tax rises on working people and no plans for tax rises beyond what’s in their manifesto, in full knowledge of the public finances.

“They can’t now claim that things are worse than they thought and renege on these pledges. We will hold the government to its own promises.”