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During the recent fiscal announcement, the correct decisions were taken for Britain, reducing energy expenses with a £150 reduction in charges, safeguarding the health service and combating the problem of impoverished children by scrapping the two-child restriction. We also ensured that the funds collected through taxes was done fairly, with everyone contributing but those with the broadest shoulders bearing an appropriate burden.

Due to the decisions enacted, the budget created a more stable economic environment, driving down inflation and sovereign debt returns. This is crucial for defending our public services, when £1 in every £10 spent by government goes on loan repayments.

Building on Economic Foundations

The budget builds on the action we have already taken to enhance economic performance: allocating £120 billion in additional funding in such things as highways, railways and utilities; implementing major regulatory changes in a generation to support developers, not obstructionists; supporting the expansion of Heathrow and Gatwick; and concluding commercial agreements with the EU, India and the US.

In combination, these have allowed us to exceed our growth forecasts.

Renewing Our Nation

As I set out at the party conference, the government’s purpose is exactly the renewal of our financial system, our localities and our government. Via these methods, we will end decline and rebuild trust in our country.

We will confront those on the both sides who only offer grievance and whose approach would lead to additional deterioration. Allow me to state unequivocally, ramping up deficit spending or reimposing spending cuts – that is the politics of decline and I will not accept it.

A Thorough Development Strategy

Through remarks coming soon, I will situate the financial plan within the broader financial revitalization on which the government will be evaluated upon conclusion of this parliament.

To accomplish the national renewal we seek, we must do more to promote development, to combat unemployment among young people and to pursue closer international cooperation with our trading partners.

Administrative Streamlining Program

Our growth mission will include a renewed focus on removing superfluous red tape. Commonly it has fallen to those on the left who have supported restrictions, but there is nothing advanced in regulations which serve only to increase the cost of living for the poorest, to hinder financial expansion unnecessarily, or prevent a Labour government achieving its aims.

That is why I am asking the business secretary to address the category of excessive additions and superfluous bureaucracy that raise expenditures and impede our industrial strategy.

Social Security Reform

Commercial rejuvenation additionally necessitates that we must continue to modernize the benefits system. We took over an ineffective structure that caused youngsters to lack basic nutrition and which discarded youth as incapable of employment.

We must not accept either part of that failing Tory system. That is why we will do more to help young people achieve their potential.

Since when individuals are overlooked in your early career, if you are refused the help you need to manage emotional difficulties, or if you are merely dismissed because you are having neurological differences or impairments, then it can trap you in a cycle of unemployment and reliance for decades.

This costs the country money, is bad for our productivity, but much more importantly, it removes potential and disregards ability. Any progressive administration worthy of the name cannot ignore that.

This is the reason we have commissioned former health secretary to make practical recommendations to help young people with medical issues obtain employment, training or education – ensuring they are supported to succeed instead of excluded.

International Trade Enhancement

Finally, we have to do more to help our businesses engage in worldwide exchange. There is no credible economic vision for Britain that does not establish us as a accessible, commercial nation.

We need to acknowledge the reality that the mishandled separation arrangement considerably harmed our commerce. It isn't necessary to have a PhD in economics to know that erecting unnecessary trade barriers with your primary business associate will hurt growth and raise the cost of living.

Therefore a component of our economic renewal will be persisting in advancing toward a closer trading relationship with the EU. Should we obtain less expensive nourishment, improve development and produce work opportunities by having a closer relationship with the EU, we should.

A Serious Plan for Serious Times

A financial plan founded on equitable decisions for Britain must be backed up with a determination to achieve the financial revitalization that the country needs.

By delivering a big, bold long-term plan, not a set of temporary solutions, we will renew Britain. We should evolve anew a serious people, with a important leadership, capable together of doing difficult things to regain control of our future.

Via possessing an unambiguous objective to rejuvenate our finances, our localities and our nation, we will deliver the change we promised – and then be judged on it at the next election.