The British Government confirmed its recognition of Palestinian Statehood at the UN General Assembly, as stated by Foreign Secretary Yvette Cooper

The foreign secretary was speaking after the UK took steps to recognize the Palestinian state.
“Today, under the United Nations emblem, I announced the British government’s decision to recognize the State of Palestine.” – Foreign Secretary Yvette Cooper MP.
What does recognizing a Palestinian state mean?
UK Prime Minister Sir Keir Starmer emphasized the need for peace in the Middle East. He advocated for a two-state solution. This would provide security for Israel.
It would also decide on a functional Palestinian state.
Yet, Israeli Prime Minister Benjamin Netanyahu warns the decision would reward “Hamas’s monstrous terrorism”.
The US has also voiced strong opposition to the move.
What will recognition mean, and what difference would it make?
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