The government’s coasting schools programme is to be extended to cover failing academies, under plans due to be announced by the prime minister later today.

David Cameron will use a keynote speech to confirm the Government will soon have the power to intervene in academies that fail to improve, in the same way it can intervene in council-run schools.

Mr Cameron is also unveiling plans to extend the shared ownership scheme to an extra 175,000 homeowners. Under the changes, people will now be allowed to use the scheme more than once, and rules that mean only key workers or people who live in certain areas can apply for shared ownership will also be abolished.

Mr Cameron said the changes will create one million more homeowners over the next five years.

Mr Cameron will say: ‘For years, we’ve had shared ownership, where you part-buy, part-rent a property. So many people are attracted to this idea, especially those who thought they’d never have a chance of owning a home.

‘But, because it’s been heavily restricted, many of those people have missed out. We’ve had local councils dictating who is eligible, based on everything from salary to profession to where the buyer comes from.’

Mr Cameron will also use his keynote speech to announce a £8m fund that councils can use to kickstart the delivery of Starter Homes and the launch of a consultation into how childcare providers and schools can work together to deliver the government’s free childcare commitment.