UK to recognise Palestinian state unless Israel meets conditions
The prime minister said Israel must also meet other conditions, including agreeing to a ceasefire and allowing the United Nations to restart the supply of aid, or the UK would take the step at September's UN General Assembly.
The government has previously said recognition should come as part of a peace process and at a point when it can have maximum impact.
However, the PM has been under growing pressure - including from his own MPs - to act more quickly.
Last week France also announced it would officially recognise a Palestinian state in September - the first of the G7 group of the world's richest countries to do so.
Giving a news conference after holding an emergency cabinet meeting, Sir Keir said he was announcing the plan now because of the "intolerable situation" in Gaza and concern that "the very possibility of a two-state solution is reducing".
He told reporters that the UK's goal of "a safe secure Israel alongside a viable and sovereign Palestinian state" was "under pressure like never before".
The PM added that his "primary aim" was to improve the situation on the ground in Gaza, including ensuring that aid gets in.
Sir Keir said the UK would recognise a Palestinian state unless the Israeli government takes steps including:
Agreeing to a ceasefire
Committing to a long-term sustainable peace, reviving the prospect of a two-state solution
Allowing the UN to restart the supply of aid
Making clear there will be no annexations in the West Bank
Meanwhile, he said Hamas must immediately release all hostages, sign up to a ceasefire, disarm and accept that they will play no part in the government of Gaza.
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