Theresa May's speech: what she said and what she meant

In David Cameron I follow in the footsteps of a great modern prime minister.

She starts off with a generous tribute but she swiftly segues into the part of her political inheritance she wants to use:

David’s true legacy is not about the economy but about social justice ... From the introduction of same-sex marriage to taking people on low wages out of income tax altogether, David Cameron has led a one nation government and it is in that spirit that I also plan to lead.

Her view of a one nation Tory party sounds closer to Disraeli’s, the PM who coined the phrase, than her predecessor’s.

The full title of my party is the Conservative and Unionist party and that word unionist is very important to me. It means we believe in the union, the precious, precious bond between England, Scotland, Wales and Northern Ireland.

This is an unexpected re-interpretation of the union. It emphasises her determination to preserve the United Kingdom through the vicissitudes of the Brexit negotiations (which she does not explicitly mention at all).

It means we believe in a union not just between the nations of the United Kingdom but between all of our citizens - every one of us - whoever we are and wherever we’re from.

This feels like an attempt to slap down critics who have accused her of fuelling racism with her opposition to immigration.

And then she thumps her message home with a rerun of the heart of her Birmingham speech.

That means fighting against the burning injustice that if you’re born poor you will die on average nine years earlier than others.

If you’re black you are treated more harshly by the criminal justice system than if you’re white.

If you’re a white working-class boy you’re less likely than anybody else in Britain to go to university.

If you’re at a state school you’re less likely to reach the top professions than if you’re educated privately.

If you’re a woman you will earn less than a man.

If you suffer from mental health problems, there’s not enough help to hand.

If you’re young you will find it harder than ever before to own your own home. If you’re from an ordinary working-class family, life is much harder than many people in Westminster realise.

Working class? When did a Tory MP last refer to the working class? This could not be a clearer rejection of the years of Etonian privilege. And she’s only just warming up.

The government I lead will be driven, not by the interests of the privileged few but by yours. We will do everything we can to give you more control over your lives.

When we take the big calls we will think not of the powerful, but you. When we pass new laws we will listen not to the mighty, but to you.

When it comes to taxes we will prioritise not the wealthy, but you. When it comes to opportunity we won’t entrench the advantages of the fortunate few, we will do everything we can to help anybody, whatever your background, to go as far as your talents will take you.

If she really meant this, it would imply no more hedge funders giving tips on what should be in the budget, an end to the tax privileges of private schools, measures to tackle inequalities of income and wealth. But probably she means grammar schools and housebuilding.

All the same, this is the most radical speech from a Tory prime minister since John Major described his dream of a classless society. He was thwarted by a party to whom nothing was more important than Europe. May must hope that they have learned from history.