Ian Duncan Smith Heritage Address

"At the end of the Thatcher years Britain was transformed. Europe’s sickest economy had become its strongest. The recipe had been low taxes. Simple taxes. Effective regulation. Privatisation. Free trade. Reform of the trade union movement. Intolerance of inflation. 

They were necessary things to have done and I don’t say that lightly. They saved Britain from terminal economic decline.

 But somehow they didn’t create a nation that was quite at ease with itself. Margaret Thatcher knew that herself and used her memoirs to regret that she hadn’t been able to initiate ‘Social Thatcherism’.