Chancellor George Osborne today made a dramatic pledge to "do everything" to make Britain the most competitive place in the world to do business.
Osborne told the Conservative Party Conference Britain has "no divine right to be one of the richest countries in the world" as economic power shifts east to Asia.
But he said the government was committed to British business, enterprise and aspiration.
"We will do everything to make Britain one of the most competitive places in the world to do business", he told delegates in Birmingham.
"We want this country to be an ideas factory for the world that is open for business."
He said while global economic dangers had not fully passed, measures taken by the coalition government to tackle the national deficit have created an environment of "relative calm" in Britain.
"Here there is no paralysing fear of the bond market, no threat of spiralling inflation.
"Our victory is the absence of war."
Osborne said the government wants Britain to be the "home" of successful financial services, but threatened to clamp down on banks which pay out big bonuses to staff but refuse to lend to small business.
In a nod to the City, he said future growth will not be confined to one sector or part of the country he said.
But acting director general of the ABI Maggie Craig says Britain is in danger of ignoring the very real contribution financial services makes to the UK economy.
"The asset management industry is economically and socially vital to the country, helping people save and providing funding for companies.
"The insurance industry employs over 275,000 people, of whom 75% work outside London, and contributed £8.2bn in taxes in 2008/09.
"The UK financial services industry remains a world leading sector and we need to keep it that way."
Elsewhere, the Chancellor also warned of a crackdown on "morally indefensible" tax avoidance.
His speech to party members comes two weeks before the autumn Spending Review on 20 October, which will lay out further detail on how Osborne will steer the economy over the next five years.
Labour leader Ed Milliband told his party's conference last week Britain should not "make a bad situation worse by embarking on deficit reduction at a pace and in a way that endangers our recovery".
Read full text of the speech here
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