Every step this Socialist Government takes to seize more power over our daily lives diminishes those lives and the freedom which is their essence and their strength. One of our principal and continuing priorities when we are returned to office will be to restore the freedoms which the Socialists have usurped. Let them learn that it is not a function of the State to possess as much as possible. It is not a function of the State to grab as much as it can get away with. It is not a function of the State to act as ring-master, to crack the whip, dictate the load which all of us must carry or say how high we may climb. It is not a function of the State to ensure that no-one climbs higher than anyone else. All that is the philosophy of Socialism. We reject it utterly for, however well-intended, it leads in one direction only: to the erosion and finally the destruction of the democratic way of life.
British stateswoman and prime minister (1925–2013)
Margaret Hilda Thatcher, Baroness Thatcher (13 October 1925 – 8 April 2013) was a British politician and stateswoman who served as Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party from 1975 to 1990. She was the first female British prime minister and the longest-serving British prime minister of the 20th century. As prime minister, she implemented neoliberal economic policies of deregulation and privatization that became known as Thatcherism. A Soviet journalist dubbed her the "Iron Lady", a nickname that became associated with her uncompromising politics and leadership style.
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The Socialists tell us that there are massive profits in a particular industry and they should not go to the shareholders—but that the public should reap the benefits. Benefits? What benefits? When you take into public ownership a profitable industry, the profits soon disappear. The goose that laid the golden eggs goes broody. State geese are not great layers. The steel industry was nationalised some years ago in the public interest—yet the only interest now left to the public is in witnessing the depressing spectacle of their money going down the drain at a rate of a million pounds a day.
In our philosophy the purpose of the life of the individual is not to be the servant of the State and its objectives, but to make the best of his talents and qualities. The sense of being self-reliant, of playing a role within the family, of owning one's own property, of paying one's way, are all part of the spiritual ballast which maintains responsible citizenship, and provides the solid foundation from which people look around to see what more they might do, for others and for themselves. That is what we mean by a moral society; not a society where the State is responsible for everything, and no-one is responsible for the State.
The kind of Conservatism which he and I...favoured would be best described as "liberal", in the old-fashioned sense. And I mean the liberalism of Mr Gladstone not of the latter day collectivists. That is to say, we placed far greater confidence in individuals, families, businesses and neighbourhoods than in the State.
For years there was a widespread belief that we could have inflation and a high level of employment at the same time. For years there was a belief that we could secure more jobs if we were prepared to put up with a little more inflation—always a little more, it was thought. The experience of the past 25 years has taught us on the Government Benches that those beliefs were a most damaging illusion. Inflation and unemployment, instead of moving in opposite directions, rose inexorably together. As Governments tried to stimulate employment by pumping money into the economy they caused inflation. The inflation led to higher costs. The higher costs meant loss of ability to compete. The few jobs that we had gained were soon lost; and so were a lot more with them. And then, from a higher level of unemployment and inflation, the process was started all over again, and each time round both inflation and unemployment rose. In Parliament after Parliament, each new Government had a higher average rate of inflation and unemployment than the preceding Government. It is that cycle that we have set out to break.
Having consulted widely among colleagues, I have concluded that the unity of the Party and the prospects of victory in a General Election would be better served if I stood down to enable Cabinet colleagues to enter the ballot for the leadership. I should like to thank all those in Cabinet and outside who have given me such dedicated support.
Socialism is a creed of the state. It regards ordinary human beings as the raw material for its schemes of social change. But we put our faith in people—in the millions of people who spend what they earn—not what other people earn. Who make sacrifices for their young family or their elderly parents. Who help their neighbours and take care of their neighbourhoods. The sort of people I grew up with. These are the people whom I became Leader of this Party to defend.