Just as it wouldn't be right to only to have an economic dialogue with China, equally you shouldn't restrict your dialogue solely to issues around, say, human rights. You can raise all those issues, and that is what reflects a mature discussion. So I don't think essentially we have to choose between being partners in China's economic development and being proud defenders of British values.

Our first benchmark is to cut the deficit more quickly to safeguard Britain’s credit rating. I know that we are taking a political gamble to set this up as a measure of success. Protecting the credit rating will not be easy The pace of fiscal consolidation will be co-ordinated with monetary policy. And we will protect Britain's credit rating and international reputation.

We support the auto-enrolment but we have our doubts about the way the National Pension Scheme is going to be structured.

You need to have a state pension that doesn't drag more and more people into means-testing each year and make it very difficult for people on low to medium term incomes to save and not see their savings clawed away.

Even a China growing at 7% or indeed less is still adding to the world economy an economy equivalent to the UK or more.

Britain wants the single currency to be a success. It is massively in our interests that we have a stable financial system on our doorstep.

British taxpayers should not bear the costs of problems in the Eurozone.