I reject absolutely the idea that people should know their place, and know their class.

What makes people angry and we are on the side of hard-working people who want to get on in life and they see how government is wasting their money.

Everyone in our society has had to make a contribution towards dealing with the debts.

Printing money is the last resort of desperate governments when all other policies have failed.

You also want to look at how the tax system encourages and rewards pension saving. I have set as an ambition reversing the effects of Gordon Brown's tax raid which heralded the beginning of the age of responsibility. We are looking at some very specific tax measures on how we can encourage saving.

People know that billions of pounds are wasted. Billions of pounds never get near the families that need it. It is an absolute outrage that hard-working people go out to work every day, get up early, come back late, don't see enough of their families in order to pay taxes to fund vast bureaucracies that are inefficient in order to fund a welfare system which allows too many people to sit for the whole of their lives on out-of-work benefits without going out to look for work.

Every day as Chancellor I see alerts telling me of risks around the world.