George Osborne says his programme of tax cuts is the biggest since the last Conservative government two decades ago.

In a speech today the chancellor will point to a series of cuts made since the Tories swept to power in 2010, which he says are giving a boost to workers and businesses.

They include an increase to the personal allowance, which climbs to £10,000 on Sunday; corporation tax cut to 21 per cent and annual investment allowances doubled to £500,000.

Small businesses will also benefit from an employment allowance which trims their national insurance bill by £2,000. That measure comes into force on Sunday too.

And on welfare changes, Mr Osborne said the government was helping people find a job, not rewarding them for not working.

"We inherited a welfare system that didn't work. There was not enough help for those looking for a job - people were just parked on benefits,” he said.

"Frankly, there was not enough pressure to get a job - some people could just sign on and get almost as much money staying at home as going out to work.

"So if Tuesday is when we help businesses creating jobs; and Sunday is when we help hard-working people with jobs; next Monday is when we do more to encourage people without jobs to find them."