We want people to have a stake in the British economy so I am in favour of actually encouraging people to have small shareholdings and feel they've got a stake in our economic future.

I didn't come from a traditional Tory background; it was urban and metropolitan.

Put on top of that the fact that the whole world is looking at Britain and saying how is this country going to pay its way in the future. They are looking at other countries like Greece who can't pay their way in the future and you see savage spending cuts, big cuts in pay.

I'm not saying "job done" but I am actually pretty confident that Britain can be one of the biggest winners from these big global changes that are taking place and indeed become the richest of the major economies in the world in this coming generation.

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.

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.

There is a big problem. The problem is the country borrowed too much. We went on a borrowing binge, there was a housing boom. You want to help people de-leverage and deal with those debts over time.