I want Britain to be a global financial centre but I want it to be properly regulated.

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

The Foreign Office is a very important arm of the British state and I think Britain has a fantastic diplomatic service. We are the only country in the world spending 2% of our national income on defence and 0.7% of our national income on aid. We are the only country in the world doing both of those things.

Britain cannot afford to cut itself off from what is going on in the world, we are too interconnected with what is going on, we have a powerful history and tradition of taking an interest in what is going on in the world, we've also got a very real interest in the future, in remaining connected.

Let's also teach people about pensions and savings, insurance and the like. But if they aren't already familiar with numbers that won't be as effective as it might be.

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.

For example at the moment there is a compulsory requirement to buy an annuity. That is something we would get rid of. It puts some people off saving.