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At the budget last week, we made the right choices for Britain, lowering power bills with savings of £150 on utilities, defending public healthcare and combating the problem of impoverished children by eliminating the two-child cap. We also ensured that the revenue we raised through taxes was done justly, with all paying their share but those with the greatest capacity contributing their fair share.

As a result of the choices we made, the budget fostered greater economic stability, reducing price increases and state borrowing costs. This is crucial for defending our public services, when a tenth of all expenditures by government goes on debt interest.

Advancing Financial Initiatives

The announcement strengthens the action we have already taken to enhance economic performance: 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; advocating for the growth of Heathrow and Gatwick; and concluding commercial agreements with the EU, India and the US.

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

Rejuvenating Our State

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

We will challenge those on the political extremes who only offer dissatisfaction and whose approach would lead to further decline. Let me be clear, increasing public debt or bringing back fiscal restraint – that is the approach of deterioration and I refuse to countenance it.

An Extensive Expansion Agenda

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.

To accomplish the countrywide revitalization we seek, we must do more to promote development, to tackle inactivity among young people and to seek enhanced global partnership with our trading partners.

Regulatory Reform Initiative

Our growth mission will include a renewed focus on removing superfluous red tape. Commonly it has fallen to those on the left who have favored regulation, but there is nothing forward-thinking in regulations which merely act to raise the cost of living for the poorest, to slow down economic growth unnecessarily, or stop a progressive administration achieving its aims.

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

Welfare State Modernization

Financial revitalization likewise requires that we must continue to modernize the benefits system. We inherited a failing system that resulted in impoverished youth going hungry and which discarded youth as unfit for labor.

We cannot tolerate either part of that ineffective right-wing framework. 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 denied the assistance you need to overcome your mental health issues, or if you are merely dismissed because you are having neurological differences or impairments, then it can imprison you in a loop of unemployment and reliance for decades.

This costs the country money, is harmful to our efficiency, but much more importantly, it takes away opportunity and overlooks capability. Any progressive administration worthy of the name should not overlook it.

This is the reason we have commissioned former health secretary to make actionable suggestions to help young people with health conditions access work, training or education – guaranteeing they receive assistance to succeed instead of excluded.

International Trade Enhancement

Ultimately, we must take further action to help our businesses conduct global commerce. No believable commercial perspective for Britain that does not place us as a welcoming, business-oriented country.

We have to address 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 erecting unnecessary trade barriers with your biggest trading partner will hurt growth and raise the cost of living.

Therefore a component of our economic renewal will be continuing to move towards a stronger commercial partnership 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 Substantial Strategy for Significant Challenges

A financial plan founded on equitable decisions for Britain must be supported by resolve to achieve the commercial rejuvenation that the country needs.

By delivering a big, bold long-term plan, not a set of short-term remedies, we will renew Britain. We must become again a substantial population, with a serious government, competent jointly to perform demanding actions to regain control of our future.

Through maintaining a distinct purpose to rejuvenate our finances, our localities and our nation, we will implement the transformation we pledged – and then be evaluated based on it during the upcoming vote.