Britain should be the world's number one center for genetic and stem cell research, building on our world leading regulatory regime in the area.

So another challenge for our generation is to create global institutions that reflect our ideas of fairness and responsibility, not the ideas that were the basis of the last stage of financial development over these recent years.

The vision of personalised public services - meeting the individual needs of all our citizens - requires continuing reform in the way services are delivered

Our approach is to reject the old vicious circle of the '80s-rising debt, higher long-term interest rates, higher debt repayment costs, lower growth, higher unemployment, then enforced cuts in public spending. That was the old boom and bust.

Think for a moment: what is the British equivalent of the U.S. Fourth of July, or even the French 14th of July for that matter?

The IIFA Weekend has my unprecedented support. The relationship between India and the UK is long standing and one we would like to keep developing forever.

In the weeks and months ahead, my task is to show I have the new ideas, the vision and the experience to earn the trust of the British people.