Steel Grab Condemned
Mrs Margaret Thatcher, Opposition spokesman on Treasury and economic affairs, attacked Chancellor of the Exchequer, Mr James Callaghan, over nationalisation yesterday.
She told Bristol North-West Conservative Women's Luncheon Club that nationalisation plans should be dropped.
Steel nationalisation would bring great problems. “Interest rates for Government securities are right up, and he will have to pay a lot to borrow the money” , she said. “In addition to that, taxpayers will have to foot the losses which are already being forecast” .
She said that this year's budget set aside 75,000,000 for the National Steel Corporation. “This is money which could have been better spent on helping those elderly and disabled who have no pension entitlement at all” , said Mrs Thatcher. “The Government prefers its Socialist theory to sound business practice” .