In my job I meet many outstanding, world class, British based companies. But we need more companies and more jobs in the companies we have.

We need a new British business bank with a clean balance sheet and an ability to expand lending rapidly to the manufacturers, exporters and high-growth companies that power our economy. Today I can announce we will have one.

I clearly believe a lot more than some of my coalition colleagues - Tories - in redistribution and using the tax system for that purpose. I also believe in the government having an active role in the economy, which is having an industrial strategy. I'm not a believer in laissez-faire.

I know it sounds trite but I wanted to make a difference. Political debates with my father had been fraught because he was uncompromising and explosive but if he taught me one thing it was to air my views.

The government increasingly resembles somebody who is trying to give the kiss of life to a corpse.

And humility in politics means accepting that one party doesn't have all the answers; recognising that working in partnership is progress not treachery.

Now the main areas of higher education that still enjoy considerable financial support from government are subjects like engineering and science and the research ringfence which is the basic minimum to protect Britain's scientific competitiveness.