New Prime Minister David Cameron has said his "historic" Conservative-led coalition government will be united and provide "strong and stable" leadership.

In a press conference with Lib Dem leader Nick Clegg, who is now deputy PM, he said they would "take Britain in a historic new direction".

Their agenda was to cut the deficit, support troops, clean up politics and build a "stronger society".

Mr Clegg acknowledged "big risks" but pledged a "bold, reforming government".

He is among five Liberal Democrats appointed to Cabinet posts, something Mr Cameron said showed "the strength and depth of the coalition and our sincere determination to work together constructively".

The coalition is the first time the Conservatives and Liberal Democrats have had a power-sharing deal at Westminster and the first coalition in the UK since the Second World War.

Mr Cameron's arrival in Downing Street marks the end of 13 years of Labour rule.

In a joint press conference in the Downing Street garden, Mr Cameron said the coalition government could mark a "historic and seismic shift" in British politics.

Ribble Valley MP Nigel Evans described the coalition as 'stunning'.

Speaking from the House of Commons, he said: “Everyone is absolutely delighted. It has been a long time coming.”

Some policies have emerged, including:

Trident: Lib Dems will drop opposition to replacing nuclear missile system but will be able to "make the case for alternatives" and funding will be scrutinised.

Heathrow: Plans for third runway, opposed by both parties, will be scrapped.

Nuclear: Lib Dem spokesman will be able to speak in opposition to new power stations - and Lib Dem MPs will abstain from vote.

Higher education funding: Lib Dems allowed to abstain on votes - reflecting party's promise to abolish tuition fees in the long term.

Spending cuts: Tory plans for £6bn cuts this financial year will go ahead.

Tax: Tories sign up to Lib Dem plan to raise income tax threshold to £10,000 in the long term, which will "take priority" over the Conservative plans for inheritance tax cuts.

KEY CABINET JOBS

Foreign Sec: William Hague
Chancellor: George Osborne
Business/banking: Vince Cable
Defence: Liam Fox Health: Andrew Lansley

Energy/Climate: Chris Huhne
Justice Sec: Ken Clarke
Home Sec: Theresa May
Education: Michael Gove
Chief Sec to Treasury: David Laws
Scottish Sec: Danny Alexander
Communities Sec: Eric Pickles
Culture/Olympics: Jeremy Hunt
Work and Pensions: Iain Duncan Smith
Tory chair: Baroness Warsi
Welsh Secretary: Cheryl Gillan
Transport: Philip Hammond
Northern Ireland: Owen Patterson
Lords Leader: Lord Strathclyde
Commons leader (attending cabinet): George Young
Attorney General (attending cabinet): Dominic Grieve.