Philip Hammond accuses Labour under Jeremy Corbyn of "deserting the middle ground of British politics in favour of the socialist ideology of the left-wing metropolitan elite".

This means the Conservatives are now the party of working people, the chancellor adds.

Turning his attention to former shadow chancellor Ed Balls - now a BBC Strictly Come Dancing contestant - Mr Hammond says: "I think his Charleston is better than his economic analysis."

"No ifs, no buts, no second referendum," Philip Hammond tells conference. "We are leaving the European Union."

This needs to be done while "protecting our economy, our jobs and our living standards", the chancellor adds.

This "complex" process requires "steely determination" which, Mr Hammond says, Theresa May will provide.

A standing ovation greets Philip Hammond's arrival on stage. The new chancellor says he is not giving away "any state secrets" by revealing he would like to have been a Treasury minister earlier.

He thinks that a note left by outgoing Labour Chief Secretary Liam Byrne in 2010, saying "there is no money left", might have been intended for him, but Lib Dem David Laws received it instead as the parties went into coalition government.

Mr Hammond says the note from the Labour minister was "an admission of abject failure".

"My predecessor didn't leave me a note," the new chancellor says, but he argues that if George Osborne had done so, he could have highlighted a far better economic record.

He also pays tribute to former leader and PM David Cameron.

The Daily Politics

BBC political editor Laura Kuenssberg tells the Daily Politics that the government has not converted to Keynesian economics, with large-scale borrowing for major projects.

The levels of borrowing with be relatively small, she understands. It is a change but not "a 180 degree flip".

Chris Grayling says airport capacity is "right at the top of my in tray".

A new airport runway in the south east of England would send a "signal that Britain is open for business", the transport secretary says - but he doesn't spell out which airport will get the new runway.

"I know our trains are crowded," Transport Secretary Chris Grayling says. "I travel in them every day.

"It's often tough to get a seat, though I have to say not, as Jeremy Corbyn would have you believe, on a mid-morning service to Newcastle."

He accuses the Labour leader of believing in a "great myth" that the trains were better "in the days of British Rail".

And Mr Grayling attacks "a small hardcore of trade union leaders" for strikes on the rail system with the goal of renationalising the service, which he claims is "an expensive, reckless idea".

The Daily Politics

Discussing Philip Hammond's loosening of fiscal targets, digital policy minister Matt Hancock says it's because "things have changed".

"The economy has changed. There was a vote for Brexit and it is a perfectly reasonable response to that," he tells the Daily Politics.

He won't be drawn on whether George Osborne, as chancellor, was wrong to warn of a Brexit "punishment" Budget, saying what's important is government policy now.

Mr Hancock says the new chancellor is making an assessment of the UK economy based on the latest economic data. Asked if the deficit will continue to fall, he says: "I certainly hope so."

The MailOnline reports, external that PM Theresa May is backing Ed Balls to win this year's Strictly Come Dancing.

If you missed the former shadow chancellor showcasing his dance moves on Saturday's show - you can watch it here.

Communities and Local Government Sajid Javid accuses Labour of hypocrisy over right-to-buy.

He calls Labour MP Emily Thornberry a "champagne socialist shadow foreign secretary who cringes when she sees the English flag".

He says she owns at least three houses "worth at least £4m".

"Labour are the party of dependence," he continues, while the Conservatives will "build on the legacy of Macmillan and Thatcher".

Andrew Neil
Presenter, The Daily Politics

Sajid Javid announces a "£3bn home builders' fund" and promises "accelerated construction on public land" in partnership with the private sector.

This will enable development to "get started on some 15,000 new homes by 2021" he says, and there wil be more "urban regeneration and building on brownfield land".

Further policy proposals will be in a housing white paper later this year, he adds.

Addressing conference, Communities and Local Government Secretary Sajid Javid says housing will be a government priority.

"Far too many young people cannot get a foot on the housing ladder," he says, quoting former Conservative PM Harold Macmillan who once said housing was "a question of humanity".

Mr Javid adds: "This country has not built enough homes. We have to be honest about it."

His message, he says, is:

Greg Clark says "decent treatment of people at work" is "a foundation" of economic succcess.

The business secretary says the government wants to make the labour market "work for everyone".

He adds that industrial strategy should reflect that different regions of the country have different needs.

"This country will never win a race to the bottom," Mr Clark says. The UK should have "an upgrade" in its economy, infrastucture and education.