upon Education and upon the NHS than at any time in our nation`s history. Between now and 2020 billions more will be poured into Health and Social Care. Of course the demands for more schools, more modern hospitals and more Doctors and Nurses continues to grow but it is only through a strong economy that those demands and the needs of an ageing population can be met.
Britain is also embarking upon significant investment in Transport infrastructure for the first time for generations. Our Armed Forces are once again both solvent and better equipped and much long-term commitment to capital spending (aircraft carriers, aircraft, the nuclear deterrent, frigates, for example) has been made.
I have said, and believe, that our determination to maintain our spending upon Overseas Aid is both right and honourable. If we, as one of the four richest economies in the World, cannot afford to support some of the poorest people in the World through a commitment of just 0.7% of GDP then we ought to be ashamed of ourselves. It is, of course, vital that aid is well-targeted but that, also, has been and is being addressed.
During the coming weeks I will seek to respond to every issue raised with me personally by those that I have sought and continue to seek to represent. But while I recognise that individuals and households have equally individual and very specific priorities I believe that the coming election will be determined by who people want to run their country as Prime Minister, who people want and trust to represent them and to fight their corner locally and, above all, how the needs of a post-Brexit nation will be met and paid for financially. We have learned the hard way that, like families, we cannot spend what we have not earned and I do not believe that Britain can, or wants to, return to the days of economic incontinence.
What has been achieved under Conservative administration to date has been at a cost in austerity that has had an impact upon every family in the Country and those of us in Westminster, on both sides of both Houses of Parliament, are very aware of that. As a result, though, there are now more people in work in full-time jobs than at any time in our history and fewer people on benefits than for a very long time. By raising the level of the personal tax threshold some five and a half million people will have been taken out of tax altogether and the widely-respected Institute of Fiscal Studies has confirmed that, although it has been a long and rough haul, family incomes are at last higher in real terms than they were when the coalition took office in 2010 and improving.
The “Big Ticket” items have benefitted also. We are spending more