I would also like to see children aged between 11 and 18 taught financial education in a structured way in schools. I would also say that that is not enough. You have also got to improve numeracy skills, mathematical skills in schools.

At the moment we are hard-wired into the European markets - 50% of our exports go to Europe - and that has not been good for the UK. So I'm not saying "make Britain entirely dependent on China". I'm saying "let's diversify a bit". When I became chancellor, China was our ninth largest trading partner. This is the world's second biggest economy. China was doing more business with Belgium than it was with Britain.

I'm fed up with Britain being condemned to this future where we borrow the Chinese in order to buy from the Chinese the things that they make for us.

We have supported the banks, they should be supporting the economy now.

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.

I get a lot of letters from people.

Tax cuts should be for life, not just for Christmas.