A national currency lies at the very heart of national sovereignty. A common currency is something that can only properly follow political union: it … - Nigel Lawson

...this Budget represents a continuation of the policies which we have pursued consistently for nearly nine years, and which we will continue to pursue—a continuation of the steps that we have taken in nine previous Budgets, and of the major reforms that we have introduced in other fields, too, all of them designed to encourage and reward enterprise and so to liberate the energies of the British people. The tax changes in this Budget consolidate Britain's move from a high-tax country to a low-tax country, at all levels. Since 1979, the top rate of income tax has been cut from 83 per cent. to 40 per cent. The basic rate has been cut from 33 per cent. to 25 per cent. The corporation tax rate has been cut from 52 per cent. to 35 per cent. The small companies' rate has been cut from 42 per cent. to 25 per cent., and the 15 per cent. additional tax on savings income has been abolished altogether.

Those who, in the nineteenth century, argued the dangers of a mass democracy in which a majority of the voters would have no stake in the country at all, had reason to be fearful. But the remedy is not to restrict the franchise to those who own property: it is to extend the ownership of property to the largest possible majority of those who have the vote. The widespread ownership of private property is crucial to the survival of freedom and democracy. It gives the citizen a vital sense of identification with the society of which he is a part. It gives him a stake in the future—and indeed, equally important, in the present. It creates a society with an inbuilt resistance to revolutionary change.

Today 'nationalism' is out of fashion among the opinion-formers. Thanks to a superficial misreading of history, it is accused of having been responsible for two world wars and has widely come to be regarded as a political sin of the first magnitude, fortunately found only in such antiquated and obsolete figures as General de Gaulle. In fact the real danger comes from ideologies not nationalism; for while a nation may properly respect the nationhood of others, an ideology knows no frontiers... Once [the Tories] lose their claim to be, in the fullest sense, the 'national party', they are left, as they are in danger of being left today, either as the party of the 'individual' – a noble but to most people an austere and forbidding creed – or else as the party of the middle classes, which condemns them to a permanent minority.