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David Cameron has called for capitalism to be taught in schools.

The Prime Minister said he wanted a “fundamental change” in attitudes to money making – with profits celebrated in the classroom.

Speaking at the Lord Mayor’s banquet in the City, he called for a culture “that values that typically British, entrepreneurial, buccaneering spirit”.

He said the Tories would make sure business was “promoted in schools. Taught in colleges. Celebrated in communities”.

Mr Cameron also signalled that austerity would drag on under the Tories.

He said: “We need to do more with less. Permanently.”

The PM’s remarks will be seized on by Labour as a further sign that he was dragging the Tories to the right ahead of the election in 2015.

But Mr Cameron said Britain needed to “support, reward and celebrate enterprise” to pay for public services.

He said: “That requires a fundamental culture change in our country.

“A culture that’s on the side of those who work hard, that values that typically British, entrepreneurial, buccaneering spirit, and that rewards people with the ambition to make things, sell things and create jobs for others up and down the country.

“That’s what this government is on a mission to bring about.”

Mr Cameron said to put business “at the heart” of the government’s economic policy.

The PM said he also wanted business boosted abroad, adding: “So we’re making enterprise a fundamental part of our foreign policy too.”

Mr Cameron announced he was taking a business delegation to China in December.

He also revealed plans for a new electronic visa waiver system for businessmen from Middle East countries - including Oman, Qatar and United Arab Emirates.

But Mr Cameron failed to mention his controversial upcoming visit to Sri Lanka for the Commonwealth summit - despite the Lord Mayor’s banquet speech traditionally focusing on foreign affairs.

The Prime Minister is under pressure to boycott the this week’s meeting because of the host government’s human rights record.

India and Canada have already said they will not be attending.

Meanwhile, Mr Cameron was left embarrassed yesterday after newspaper editors from Sri Lanka wrote to him urging him to “reconsider” his reforms to press regulation.

They warned that the new Royal Charter will act as a blueprint to regimes around the world which want to control the media.

The letter came after Mr Cameron last week promised to use his visit to Sri Lanka for the Commonwealth Heads of Government Meeting on Friday to highlight concerns over human rights abuses, including the alleged intimidation of journalists in the south Asian island state.

But the Editors’ Guild of Sri Lanka said that Britain risked losing its position as a “beacon of freedom” around the world if it curtailed the freedom of the press at home.

Last night, Downing Street insisted it was not changing its plans to regulate the press as a result of the letter.

A Number 10 spokesman said: “Nothing is going to change as a result of that.”