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At the budget last week, the correct decisions were taken for Britain, cutting the cost of energy with a £150 reduction in charges, protecting the NHS and addressing the issue of youth deprivation by removing the two-child limit. Measures were also taken that the revenue we raised through taxes was done justly, with everyone contributing but those with the largest means paying what they owe.

As a result of the choices we made, the budget established a firmer financial footing, reducing price increases and state borrowing costs. This is essential for securing our public services, when £1 in every £10 spent by government goes on debt interest.

Building on Economic Foundations

The budget builds on the action we have already taken to improve the economy: directing £120bn toward new investments in such things as roads, rail and energy; implementing major regulatory changes in a generation to favor construction, not impediments; promoting the development of Heathrow and Gatwick; and concluding commercial agreements with the EU, India and the US.

Collectively, these have allowed us to outperform our expansion estimates.

Revitalizing Our Country

As I explained at the party conference, the government’s purpose is nothing less than the renewal of our financial system, our localities and our government. Through this approach, we will halt deterioration and reestablish confidence in our country.

We will take on those on the political extremes who only offer complaints and whose approach would lead to continued weakening. I want to emphasize, turning on the borrowing taps or returning us to austerity – that is the strategy of degradation and I cannot endorse it.

A Comprehensive Growth Mission

In a speech on Monday, I will situate the financial plan within the broader financial revitalization on which the government will be assessed following completion of this parliament.

For us to realize the national renewal we seek, we must do more to promote development, to combat unemployment among young people and to seek enhanced global partnership with our trading partners.

Bureaucracy Reduction Effort

Our growth mission will include a renewed focus on removing superfluous red tape. 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 hinder a reformist leadership achieving its aims.

This is the reason I am asking the business secretary to confront the variety of pointless gold-plating and needless paperwork that increase expenses and get in the way of our industrial strategy.

Benefits System Overhaul

Economic renewal also demands that we must continue to overhaul social security. We inherited a failing system that resulted in impoverished youth going hungry and which wrote off young people as unfit for labor.

We cannot tolerate either part of that failing Tory system. Hence the reason we will do more to help young people achieve their potential.

Because if you are ignored in your early career, if you are refused the help you need to overcome your mental health issues, or if you are just discounted because you are having neurological differences or impairments, then it can trap you in a cycle of worklessness and dependency for decades.

This costs the country money, is bad for our productivity, but much more importantly, it takes away opportunity and disregards ability. Any Labour government worthy of the name should not overlook it.

Hence the explanation we have tasked a previous healthcare official to make implementable proposals to help young people with medical issues obtain employment, training or education – ensuring they are supported to thrive and not sidelined.

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 poorly executed departure agreement considerably harmed our commerce. It isn't necessary to have a PhD in economics to know that constructing needless commercial obstacles with your largest commercial ally will hurt growth and raise the cost of living.

So one element of our economic renewal will be maintaining progress in the direction of a closer trading relationship with the EU. When we can access more affordable sustenance, improve development and produce work opportunities by having a closer relationship with the EU, we should.

A Serious Plan for Serious Times

A budget based on fair choices for Britain must be reinforced with commitment to achieve the commercial rejuvenation that the country needs.

Through implementing a substantial, courageous extended strategy, not a set of quick fixes, we will rejuvenate the country. We need to transform once more a serious people, with a important leadership, able collectively to undertake challenging tasks to retake charge of our prospects.

Via possessing an unambiguous objective to revitalize our commerce, our neighborhoods and our government, we will implement the transformation we pledged – and then be evaluated based on it during the upcoming vote.