There are those on the political spectrum who offer only discontent: Labour is getting on with the job of economic renewal.

At the budget last week, we made the right choices for Britain, cutting the cost of energy with a £150 reduction in charges, safeguarding the health service and addressing the issue of youth deprivation by scrapping the two-child restriction. We also ensured that the income generated through taxes was done fairly, with everyone contributing but those with the greatest capacity 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 debt interest.

Building on Economic Foundations

The announcement strengthens the action we have already taken to enhance economic performance: providing £120bn in extra capital investment in such things as roads, rail and energy; introducing significant overhaul measures in a generation to favor construction, not impediments; advocating for the growth of Heathrow and Gatwick; and establishing trading partnerships with the EU, India and the US.

Taken together, these have allowed us to exceed our growth forecasts.

Rejuvenating Our State

As I outlined at the party conference, the government’s purpose is precisely the renewal of our economy, our communities and our state. Through this approach, we will stop degradation and rebuild trust in our country.

We will take on those on the both sides who only offer complaints and whose approach would lead to further decline. I want to emphasize, turning on the borrowing taps or reimposing spending cuts – that is the approach of deterioration and I will not accept it.

A Comprehensive Growth Mission

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

If we are to achieve the nationwide rejuvenation we seek, we must do more to stimulate expansion, to address idleness among young people and to aim for stronger worldwide collaboration with our trading partners.

Bureaucracy Reduction Effort

Our development strategy will include a reinforced attention on removing superfluous red tape. Commonly it has fallen to those on the left who have preferred controls, 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 stop a progressive administration achieving its aims.

This is the reason I am asking the business secretary to address the category of unnecessary embellishment and superfluous bureaucracy that increase expenses and obstruct our industrial strategy.

Benefits System Overhaul

Financial revitalization likewise requires that we must continue to reform the welfare state. We took over an ineffective structure that left children too poor to eat and which wrote off young people as unfit for labor.

We should not endorse either part of that unsuccessful conservative approach. That is why we will do more to support adolescents in reaching their abilities.

For when people are neglected in your early career, if you are not given the support you need to address psychological challenges, or if you are just discounted because you are having neurological differences or impairments, then it can confine you to a pattern of joblessness and neediness for decades.

This imposes financial burdens, is harmful to our efficiency, but much more importantly, it removes potential and disregards ability. Any Labour government worthy of the name must not disregard this.

That is why we have tasked a previous healthcare official to make implementable proposals to help young people with medical issues obtain employment, training or education – making certain they get help to thrive and not sidelined.

Worldwide Business Development

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 place us as a welcoming, business-oriented country.

We must confront the reality that the poorly executed departure agreement significantly hurt our economy. It isn't necessary to have a PhD in economics to know that establishing superfluous business impediments with your biggest trading partner will hurt growth and raise the cost of living.

Therefore a component of our economic renewal will be maintaining progress in the direction of a stronger commercial partnership with the EU. Should we obtain less expensive nourishment, boost growth and create jobs by having a closer relationship with the EU, we should.

A Substantial Strategy for Significant Challenges

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

Through implementing a substantial, courageous extended strategy, not a set of temporary solutions, we will rejuvenate the country. We should evolve anew a substantial population, with a serious government, able collectively to undertake challenging tasks to regain control of our future.

By having a clear mission to renew our economy, our communities and our state, we will implement the transformation we pledged – and then be judged on it at the next election.