The prime minister will personally unveil a new initiative next week to help British people launch their own companies.

David Cameron made the pledge as part of a speech outlining the future of the British economy, in which the excesses of “turbo-capitalism” will be checked and the market will be “fair as well as free”.

Cameron gave little detail about his new start-up initiative. However he did promise to introduce sweeping reforms of the existing tax and banking systems, saying:

“The last government got regulation completely the wrong way round. Small companies were strangled in red tape, while the banks were allowed to let rip. We’re turning the tables on this.”

Cameron also urged Britain to help and revere people with the courage, and determination, to build a successful business.

 “We need to reconnect the principles of risk, hard work and success with reward. When people take risks, with their own ideas, energy and money, when they succeed in a competitive market when anyone can come and knock them off their perch at any time, we should celebrate entrepreneurs who get rich in that way.

“We should support business leaders who earn great rewards for building great businesses, for doing great things for their company, for our economy and for society.”

Full details of Cameron’s new start-up initiative will be provided on startups.co.uk next week, following his full announcement of the scheme.