The Robert Mugabe school of economics provides a salutary warning about uncontrolled monetary expansion in generating hyper-inflation. The road to Harare is not as long as we might hope.

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.

I don't feel comfortable with luxury, and I try to stay fairly normal.

So I went into government with a clear mind about what the problems were, and what needed to be done.

My job is to support businesses, that means promoting British commerce in the big emerging markets that have been neglected in the past. It means keeping Britain open to inward investors, trade and skilled workers. It means cutting red tape which is suffocating growing companies which create jobs.

Where there is flagrant abuse of corporate entities we must and will seek to tackle it.

I am going to confront the old-fashioned negative thinking which says that all government needs to do to generate growth is cut worker and environmental protections, cut taxes on the rich and stroke 'fat cats' until they purr with pleasure. I'm completely repudiating the idea that government has to get out of the way.