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At the budget last week, the correct decisions were taken for Britain, reducing energy expenses with a £150 reduction in charges, safeguarding the health service and addressing the issue of youth deprivation by scrapping the two-child restriction. Measures were also taken that the income generated through taxes was done fairly, with each person chipping in but those with the greatest capacity paying what they owe.

Due to the decisions enacted, the budget fostered greater economic stability, driving down inflation and government bond yields. This is essential for securing our public services, when a tenth of all expenditures by government goes on debt interest.

Building on Economic Foundations

The budget builds on the action we have already taken to improve the economy: providing £120bn in extra capital investment in such things as highways, railways and utilities; enacting the biggest planning reforms in a generation to favor construction, not impediments; promoting the development of Heathrow and Gatwick; and signing trade deals with the EU, India and the US.

Taken together, these have allowed us to outperform our expansion estimates.

Rejuvenating Our State

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

We will challenge those on the left and right who only offer grievance and whose approach would lead to further decline. Allow me to state unequivocally, turning on the borrowing taps or returning us to austerity – that is the approach of deterioration and I refuse to countenance it.

A Thorough Development Strategy

In a speech on Monday, I will situate the financial plan within the broader financial revitalization on which the government will be evaluated upon conclusion of this parliament.

For us to realize the national renewal we seek, we must do more to encourage growth, to tackle inactivity among young people and to seek enhanced global partnership with our trading partners.

Administrative Streamlining Program

Our growth mission will include a reinforced attention on eliminating needless bureaucracy. Often it has been those on the left who have favored regulation, but there is nothing advanced in regulations which merely act to raise the cost of living for the poorest, to impede commercial development unnecessarily, or prevent a Labour government achieving its aims.

That is why I am asking the business secretary to confront the variety of excessive additions and unnecessary red tape that add to costs and impede our industrial strategy.

Benefits System Overhaul

Economic renewal also demands that we must continue to modernize the benefits system. We inherited a failing system that caused youngsters to lack basic nutrition and which discarded youth as too sick to work.

We cannot tolerate either part of that failing Tory system. Hence the reason we will do more to assist youth in realizing their capabilities.

For when people are neglected in your early career, if you are refused the help you need to address psychological challenges, or if you are simply written off because you are experiencing cognitive variations or handicaps, then it can confine you to a pattern of joblessness and neediness for decades.

This costs the country money, is bad for our productivity, but much more importantly, it eliminates prospects and disregards ability. Any reformist leadership worthy of the name must not disregard this.

This is the reason we have appointed an ex-health minister to make practical recommendations to help young people with medical issues obtain employment, training or education – ensuring they are supported to thrive and not sidelined.

Worldwide Business Development

Finally, we have to do more to help our businesses conduct global commerce. No plausible financial outlook for Britain that does not place us as a welcoming, business-oriented country.

We need to acknowledge the reality that the poorly executed departure agreement substantially damaged our finances. You do not need to have a PhD in economics to know that establishing superfluous business impediments with your biggest trading partner will impede expansion and increase expenses.

Therefore a component of our economic renewal will be continuing to move towards a enhanced business association with the EU. Should we obtain less expensive nourishment, enhance expansion and generate employment by having a stronger connection with Europe, we should.

A Meaningful Approach for Major Issues

An economic package built on just selections for Britain must be backed up with a determination to achieve the economic renewal that the country needs.

By delivering a big, bold long-term plan, not a set of temporary solutions, we will renew Britain. We need to transform once more a meaningful society, with a serious government, able collectively to undertake challenging tasks to reclaim command of our destiny.

Through maintaining a distinct purpose 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.