George Osborne will deliver his first all-Tory Budget in July, with announcements expected on billions of pounds worth of welfare cuts and a pledge to spread the recovery across the entire UK.
The Chancellor's previous Budgets have always been tempered by the influence of his former coalition partners, the Liberal Democrats.
But last week's Conservative majority allows Mr Osborne to present a 'true blue' Budget to the country for the first time in almost two decades.
Among the announcements are expected to be progress on the Tory's pledge to cut £12 billion from the benefits bill.
The Budget could also offer the Chancellor the opportunity to implement the Conservative's manifesto pledges on tax, including to raise the inheritance tax threshold to £1 million.
The levy is seen as a totemic issue for many Tories.
Prime Minister David Cameron has said that inheritance tax should be paid only "by the very wealthy" and that in his opinion "you should be able to pass a family home on to your children rather than leave it to the taxman".
The Chancellor will today (SAT) announce that his second Budget in four months, and the first all-Tory affair, will be a "One Nation" Budget presented to parliament on July 8.
He will describe it as a Budget for "workers", following criticism earlier this week from unions over the Conservative plans to introduce tighter restrictions around strike action.
Mr Osborne is also facing pressure from some on his own benches over the scale of the pledges in the Conservative manifesto.
The Chancellor faces findings saving to the benefits bill that some fear could see the Tories reclaim their "nasty party" label.
Mr Osborne will say: "On the 8th of July I am going to take the unusual step of having a second Budget of the year - because I don't want to wait to turn the promises we made in the election into a reality... And I can tell you it will be a Budget for working people."
The Treasury said that the Budget would set out the government's plan to deliver the savings set out during the election campaign, in which the Tories accused parties including Labour and the SNP of wanting to "bankrupt Britain".
In what appears to be a deliberate borrowing of Lib Dem language, the UK would pay down it debts "in a fair and balanced way".
The Tories one time coalition partners had argued that taking £12 billion from the social security bill without asking those on higher wages to pay more would be unfair and unworkable.
Labour, meanwhile, accused the Conservatives of planning "extreme" cuts that it was refusing to admit to the electorate.
The Conservatives will also set out plans for savings in Whitehall, further crack downs on tax avoidance.
The Treasury said that reforms to welfare would "protect the most vulnerable while making sure the system is fair for the people who pay for it".
Sources also said that the Budget will help business create to jobs across the UK, by addressing the country's long-term problem with productivity and investment in three million more apprenticeship places.
This Budget will also be styled as the budget of a One Nation Government to ensure the whole country feels the benefit of recovery, they added.
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