My Lords and members of the House of Commons.
My government will legislate in the interests of everyone in our country. It will adopt a one nation approach, helping working people get on, supporting aspiration, giving new opportunities to the most disadvantaged and bringing different parts of our country together.
My government will continue with its long-term plan to provide economic stability and security at every stage of life. They will continue the work of bringing the public finances under control and reducing the deficit, so Britain lives within its means. Measures will be introduced to raise the productive potential of the economy and increase living standards.
Legislation will be brought forward to help achieve full employment and provide more people with the security of a job. New duties will require my ministers to report annually on job creation and apprenticeships. Measures will also be introduced to reduce regulation on small businesses so they can create jobs.
Legislation will be brought forward to ensure people working 30 hours a week on the National Minimum Wage do not pay income tax, and to ensure there are no rises in Income Tax rates, Value Added Tax or National Insurance for the next 5 years.
Measures will be brought forward to help working people by greatly increasing the provision of free childcare.
Legislation will be introduced to support home ownership and give housing association tenants the chance to own their own home.
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