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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, defending public healthcare and combating the problem of impoverished children by eliminating the two-child cap. Steps were likewise implemented that the revenue we raised through taxes was done fairly, 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 created a more stable economic environment, driving down inflation and government bond yields. This is essential for securing 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 boost financial conditions: directing £120bn toward new investments in such things as highways, railways and utilities; implementing major regulatory changes in a generation to support developers, not obstructionists; advocating for the growth of Heathrow and Gatwick; and signing trade deals with the EU, India and the US.

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

Revitalizing Our Country

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. By doing that, we will end decline and restore faith in our country.

We will take on those on the left and right who only offer complaints and whose approach would lead to additional deterioration. Allow me to state unequivocally, turning on the borrowing taps or returning us to austerity – that is the politics of decline and I will not accept it.

A Thorough Development Strategy

Through remarks coming soon, I will place the budget in context within the broader commercial rejuvenation on which the government will be assessed following completion of this parliament.

If we are to achieve the national renewal we seek, we must do more to stimulate expansion, to address idleness among young people and to pursue closer international cooperation with our trading partners.

Regulatory Reform Initiative

Our growth mission will include a reinforced attention on sweeping away unnecessary regulation. Often it has been those on the left who have favored regulation, but there is nothing progressive in regulations which serve only to increase the cost of living for the poorest, to impede commercial development unnecessarily, or hinder a reformist leadership achieving its aims.

Hence the rationale I am asking the business secretary to tackle the type of pointless gold-plating and superfluous bureaucracy that raise expenditures and obstruct our industrial strategy.

Social Security Reform

Commercial rejuvenation additionally necessitates that we must continue to modernize the benefits system. We assumed control of a dysfunctional apparatus that caused youngsters to lack basic nutrition and which dismissed adolescents as incapable of employment.

We cannot tolerate either part of that unsuccessful conservative approach. Hence the reason we will do more to assist youth in realizing their capabilities.

Because if you are ignored in your early career, if you are denied the assistance you need to manage emotional difficulties, or if you are just discounted because you are having neurological differences or impairments, then it can imprison you in a loop of joblessness and neediness for decades.

This costs the country money, is bad for our productivity, but considerably more crucially, it removes potential and ignores potential. Any Labour government worthy of the name must not disregard this.

This is the reason we have tasked a previous healthcare official to make actionable suggestions to help young people with medical issues obtain employment, training or education – guaranteeing they receive assistance to thrive and not sidelined.

Global Commerce Improvement

Finally, we have to do more to help our businesses trade internationally. There is no credible economic vision 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 significantly hurt our economy. 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.

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

A Serious Plan for Serious Times

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

Through implementing a substantial, courageous extended strategy, not a set of quick fixes, we will renew Britain. We must become again a substantial population, with a significant administration, competent jointly to perform demanding actions to regain control of our future.

Through maintaining a distinct purpose to renew our economy, our communities and our state, we will deliver the change we promised – and then be assessed according to it in the forthcoming poll.