“The fact is that the two major nuclear powers have not gone to war against each other—because, I believe, nuclear weapons are achieving their purpose as a deterrent that makes the prospect of war too horrific. It is noteworthy that, since the last world war, there have been 140 conventional wars, fought with ordinary weapons, which are themselves horrific, and that nuclear weapons have been a deterrent to war. I therefore believe that we should keep them.”

Prime Minister's Questions (15 June 1982) http://www.margaretthatcher.org/document/104968
First term as Prime Minister

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Margaret Thatcher 348
British stateswoman and politician 1925–2013

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“The point of having nuclear weapons is to deter a war of any kind. They have succeeded in doing so for the past 37 years. To be an effective deterrent a potential aggressor must believe that under certain circumstances such weapons will be used.”

Margaret Thatcher (1925–2013) British stateswoman and politician

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“We cannot escape the prospect of nuclear war unless we all commit to stopping the spread of nuclear weapons and pursuing a world without them.”

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“America and Russia have excessive numbers of nuclear weapons today because we treated nuclear weapons, at the end of World War II, like they were just bigger conventional weapons. If you have tanks, and the other side has more than you, you may be in trouble — or airplanes or ships or whatever. With nuclear weapons, it's not the same: they're too powerful, and at some point you just can't use any more, it's just not meaningful.”

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Context: America and Russia have excessive numbers of nuclear weapons today because we treated nuclear weapons, at the end of World War II, like they were just bigger conventional weapons. If you have tanks, and the other side has more than you, you may be in trouble — or airplanes or ships or whatever. With nuclear weapons, it's not the same: they're too powerful, and at some point you just can't use any more, it's just not meaningful. But what happened was, we had the lead of course, because we invented them. The Russians tried to catch up with us; we tried to stay ahead of the Russians; they tried to catch up with us, and we just had a never-ending race upward. By the mid-Sixties, we realized this, but because of the Cold War mentality, politicians couldn't stand up and say, "I'm willing to have less than the Soviet Union," and so the race continued, but we tried to mitigate it by instituting an arms control process, which at first tried to cap and then later to reduce these numbers. … there's just no way you can actually use them; they become so destructive. I estimate that a couple of hundred nuclear weapons, not just on the center of cities, but on economic positions in the country, will drive a country to the point it will never recover, it will never be the same again. It will survive, but it'll be a totally different country. You don't need thousands to do that. There are only a few hundred cities of any size in even Russia or the United States, like 200, and you just don't need thousands of weapons to demobilize a country.

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“I am opposed to the use of nuclear weapons. I am opposed to the holding of nuclear weapons. I want to see a nuclear-free world. I believe it is possible. I do not think we should be renewing Trident… I think we should be promoting an international nuclear weapons convention which would lead to a nuclear-free world.”

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“The US, whether we like it or not, has nuclear weapons. The US is a member of NATO. Possession by the US of nuclear weapons is obviously a deterrent.”

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“No-one in their senses wants nuclear weapons for their own sake, but equally, no responsible prime minister could take the colossal gamble of giving up our nuclear defences while our greatest potential enemy kept their's. Policies which would throw out all American nuclear bases…would wreck NATO and leave us totally isolated from our friends in the United States, and friends they are. No nation in history has ever shouldered a greater burden nor shouldered it more willingly nor more generously than the United States. This Party is pro-American. And we must constantly remind people what the defence policy of the [Labour] Party would mean. Their idea that by giving up our nuclear deterrent, we could somehow escape the result of a nuclear war elsewhere is nonsense, and it is a delusion to assume that conventional weapons are sufficient defence against nuclear attack. And do not let anyone slip into the habit of thinking that conventional war in Europe is some kind of comfortable option. With a huge array of modern weapons held by the Soviet Union, including chemical weapons in large quantities, it would be a cruel and terrible conflict. The truth is that possession of the nuclear deterrent has prevented not only nuclear war but also conventional war and to us, peace is precious beyond price. We are the true peace party.”

Margaret Thatcher (1925–2013) British stateswoman and politician

Speech to Conservative Party Conference (12 October 1984) http://www.margaretthatcher.org/document/105763
Second term as Prime Minister

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