“Under the Socialists, rapid strides have been taken towards the Iron Curtain State. We have seen increased nationalisation measures, increased powers of central Government over both large and small companies, increased levels of tax on the pay packet and on savings alike, and an increased proportion of the national income spent not by the wage-earner but by the Government or Government agencies. In the result, the Prime Minister has become the first Socialist Minister since the Chancellor of the Exchequer in 1951 to say that his policies will mean a reduced standard of living for our people…it is clear that Socialist systems are not good at creating wealth; they can only spend the wealth that others create.”

—  Margaret Thatcher

Speech in the House of Commons (9 June 1976) http://www.margaretthatcher.org/document/103046 <br class="br">Leader of the Opposition

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Margaret Thatcher348
British stateswoman and politician 1925–2013

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