Speeches, etc.

Margaret Thatcher

Speech to Finchley Conservative Women ("we will not do a "U" turn")

Document type: Speeches, interviews, etc.
Venue: Finchley
Source: Barnet Press, 24 November 1980
Editorial comments: Between 1245 and 1430. The Finchley Times, 27 November 1980, has additional material: "In a wide ranging speech she offered a recipe for slashing income tax. But she warned that it could only happen in different circumstances. "This year we paid over 3,000m pounds - three quarters of the money we got from North Sea Oil - to nationalised industry. I could knock your income tax down to 4p in the pound if we did not have to do that". She ended on an optimistic note. Inflation was down, and British goods must regain their reputation for being the world’s best. She told the 200 diners. "It’s not just toughness. What we are preaching is true, honourable, reasonable and right and you don’t do a U-turn from that. You carry on with it". Earlier MT had opened a local Day Centre for old people where she spoke briefly. "A lot of money has been spent on the school and a lot of money spent on the youth club and the facilities are now fully used in the day time and we really have to get the be
Importance ranking: Minor
Word count: 755
Themes: Conservatism, Economic policy - theory and process, Industry, Monetary policy, Foreign policy - theory and process, Trade unions

Mrs. Thatcher pledges no economic ‘U’ turns

The Government will make no “U” turns as it wrestles with the economic problems of the country.

In a hard—hitting speech to Tory ladies on Friday afternoon Prime Minister Mrs. Margaret Thatcher promised a continuation of the tough approach adopted in the battle with inflation.

She said: “What we are preaching is true and honourable and reasonable and right and we will not do a ‘U’ turn.”

The Premier was speaking at Firs Hall, Green Lanes, Palmers Green, at the annual lunch of the Finchley and Friern Barnet Conservative Association's Women's Advisory Committee.

Referring to her visits to Germany last week and Italy this week Mrs. Thatcher spoke of the importance of good international relations in such a “dangerous” world.

She said it should be recognised the country had certain things in common with other nations but the Government must represent and fight for British interests.

“They respect you far more if you do fight,” she said.

In her opinion Britain now received more co-operation and understanding from other countries and was considered an asset to Europe and not just a member.

Mrs. Thatcher said: “Don't let anyone ever tell you we don't help other nations. We might not be the richest nation in the world but we give a goodly proportion of what we've got to help other nations.”

Mrs. Thatcher then traced the beginnings of the country's economic decline. For a period after the Second World War Britain enjoyed the highest standard of living in Europe.

But then other countries re—equipped, modernised and “worked like Trojans” and Britain plummeted down the league table.

Printing more money was not the answer for it would not be balanced by an increase in goods and services and our products would not be able to compete with thoses of other countries.

Of their wealth Mrs. Thatcher said: “They have got it by working hard and by using all their modern technology, equipment and devices to their full extent.”

She criticised trade union interference in the introduction of new technology.

Although the country could no longer go on living beyond its means Mrs. Thatcher said higher wages were possible but they had to be earned.

Mrs. Thatcher said that companies in the private sector now offered good value for money when compared to the nationalised industries.

Nationalised industries were heavily subsidised and the Prime Minister said people had a right to expect them to be as efficient as private industry.

Mrs. Thatcher said: “There is nothing moral about a nation living above its income. If a family lives above its income and goes and gets into a mess you don't say what a marvellous lot they are.

“The same goes for governments. There is nothing moral about saying print money because we haven't got it to spend. There is everything immoral about it.”

She spoke of the decline on the car industry—1.7 million cars were produced in this country 10 years ago but now the figure has dropped to under a million.

She said the demand was there but the vehicles were not being produced. Design, value for money and delivery dates slipped behind those of competitors.

Mrs. Thatcher said: “I must go on being tough and firm and say to people the business is there and we've got to go out and get it. If the Japanese can do it so can we.”

She said the Conservative policy was working—attitudes were changing, management was beginning to manage once again and inflation was dropping.

“We will begin to see a marked change for the better within the year. British goods used to be the best in the world, they had that reputation and we must regain it. Abroad they think Britain has taken on a new lease of life.”

Mrs. Thatcher was thanked by Cr. Mrs. June Cole, who assured her of the support of the Finchley and Friern Barnet Conservative Association.

Mrs. Thatcher was then presented with a Christmas cake.

Chairman of the Women's Advisory Committee Mrs. Esther Levi earlier proposed toasts to the Queen and the Conservative Party.

Mrs. Levi thanked Mrs. Sue Thurlow, who was toastmaster, and Mrs. Margaret Tiplady for their work in organising the lunch.

Those present included vice-chairmen of the Greater London area's Advisory Committee, Cr. Dot Benson and Mrs. Rita Miller and Merseyside councillor Peter Papworth.