Today Programme
BBC Radio 4

On tax credits, the chancellor claims the "typical" family working on the minimum wage will be "around £2,000 better off" following government changes, including a higher minimum wage. Also, he adds: "That family lives in a country that has economic security, that is living within its means."

He insists that current welfare costs are "not sustainable" and, if there are no curbs on spending, ministers would "consigning this country to the second row".

Today Programme
BBC Radio 4

Britain is "pretty rubbish" at major infrastructure projects, Chancellor George Osborne argues in his Today programme interview.

He says a decision on airport expansion is expected by Christmas. A recent report by the Airports Commission said a new runway should be at either Heathrow or Gatwick, he says (although it was read as fairly clearly recommending a third runway at Heathrow) and has "done a good job of forcing that debate", the chancellor claims. He adds:

Today Programme
BBC Radio 4

BBC political editor Laura Kuennsberg says the government's plan to sell more Lloyds shares will be "manna from heaven" to the Conservative conference. It rekindles the idea of a share-owning democracy which was advanced during Margaret Thatcher's leadership, she adds.

Laura also says that the appointment of former Labour peer Lord Adonis to head an infrastructure commission is a coup for the Tories. She says the peer - who will resign the Labour whip - is mainly about "getting things done" and was "part of the Labour attempt to do something similar". Obtaining his services is part of George Osborne's approach of being "a political magpie" taking ideas from left and right.

Chancellor George Osborne has already been on the TV sofas and he's coming up on Radio 4's Today at 8.10am, He's been defending the changes to tax credits, saying that the changes are part of package along with the higher minimum wage and more childcare help so overall there is: 

Image source, PA

The second George Osborne announcement is that the government plans to sell shares worth £2bn in Lloyds to private investors at a discount.

The Treasury said that the government would sell its remaining 13% stake in the bank in the coming months.

As part of this, a sale aimed at private investors will be launched next spring.

Members of the public will be offered a 5% discount to Lloyds' market price and small investors seeking shares worth less than £1,000 will get priority.

Those who keep their shares for at least 12 months will get one bonus share for every 10 they own.

The value of the bonus share incentive will be capped at £200 per investor.

The share sale will be launched in spring next year, with applications available online and by post.

The government saved Lloyds from collapsing at the height of the financial crisis in 2008 with a £20.5bn bailout, leaving it with a 43% stake.

The Treasury has recouped almost three-quarters of public funds used to rescue the bank by selling shares to institutional investors.

Proceeds from selling the shares will be used to reduce government debt.

Image source, PA

The first of the Osborne announcements is that a new body to plan infrastructure projects will be chaired by the former Labour transport secretary Lord Adonis, the chancellor is to announce.

The commission will be unveiled at the Conservative conference and George Osborne will pledge an extra £5bn in this Parliament for major schemes.

In a speech later, he will say he plans to "shake Britain out of its inertia".

Lord Adonis said that without "big improvements" in transport and energy "Britain will grind to a halt".

The chancellor believes the independent National Infrastructure Commission will prove vital to boosting the economy.

It will initially focus on London's transport system, connections between cities in the north of England, and updating the energy network - funded by selling off land, buildings and other government assets.

Lord Adonis, policy chief in Tony Blair's government before becoming transport secretary under Gordon Brown, has resigned the Labour whip and will sit as a crossbencher in the Lords as he takes on his new role.

Read more

Ahead of his speech - which you'll be able to watch live on this page as well as follow text commentary on it - Chancellor George Osborne is doing a round of media interviews with a couple of big announcements to trail...

Hello and welcome to our rolling coverage of today's political developments, with the Conservative conference in Manchester in full swing. The main event is set to be Chancellor George Osborne's speech at about noon.