I welcome the right hon. Gentleman to his position and thank him for an advance copy of his statement.
No one underestimates this country, but the country is deeply worried that the new Prime Minister overestimates himself. He inherits a country that has been held back by nine years of austerity that hit children and young people the hardest. Their youth centres have closed, their school funding has been cut and their college budgets slashed, and with the help of the Liberal Democrats, tuition fees have trebled. Housing costs are higher than ever, and jobs are lower paid. Opportunity and freedom have been taken away. Austerity was always a political choice, never an economic necessity—[Interruption.]