However, details regarding specific policies and funding to support such initiatives are still vague, which is likely to fuel scepticism from the opposition, especially given recent announcements regarding slugging economic growth and a renewed focus on cutting welfare benefits.

Cameron pointed to the Olympics as recent evidence of what the UK can achieve, but quickly followed this praise by saying that we "mustn't let that warm glow give us a false sense of security".

He said: "All around the world, countries are on the rise. Yes, we've been hearing about China and India for years, but it's hard to believe what's happening in Brazil, in Indonesia, in Nigeria too. Meanwhile, the old powers are on the slide.

"What do the countries on the rise have in common? They are lean, fit, obsessed with enterprise, spending money on the future - on education, incredible infrastructure and technology."

He added: "And what do the countries on the slide have in common? They're fat, sclerotic, spending money on unaffordable welfare systems, huge pension bills, unreformed public services."