Politicians, trade union leaders and members of the public have been invited by the Government to engage in the debate on how to cut the budget deficit and ensure Britain lives within its means.
Chancellor George Osborne told the Commons that after inheriting the largest budget deficit in the EU from Labour the country faced a "serious national challenge".
He said whoever won the election was going to have to face up to the fact the deficit was not going to "automatically reduce" as growth returned because it was "structural".
Ministers wanted to ensure that all political parties, "the brightest and best brains across Whitehall and the public sector," voluntary groups, think-tanks, unions and members of the public "are all engaged in the debate and the discussion about how collectively we deal with the problem".
Mr Osborne added: "After all it is our collective national debt." The debate was about "how the country lives within its means".
The Chancellor will later set out a framework for the introduction of "painful" spending cuts which David Cameron said would affect the lifestyles of everyone in Britain over the coming years.
In debate on the Queen's Speech, he is expected to tell MPs how they will draw up a "once-in-a-generation" spending review this autumn, which is expected to slash as much as £60 billion from annual expenditure.
Mr Osborne will announce the establishment of a so-called "star chamber" of ministerial and civil service heavyweights before which departmental ministers will be required to justify their budgets.
