Reversing Britain’s economic decline was such a huge and painful undertaking that, at least until the later years, the economy had to come first.
In fact, though flawed in some respects, the speech with its emphasis on remoralising society and on strengthening the family, deserves re-reading.
It does not though, reveal much about his essential philosophy, which with Keith — as with most professional politicians — remained below the surface.
The kind of Conservatism which he and I — though coming from very different backgrounds — favoured would be best described as "liberal", in the old-fashioned sense. And I mean the liberalism of Mr Gladstone not of the latter day collectivists.
That is to say, we placed far greater confidence in individuals, families, businesses and neighbourhoods than in the State.
— Margaret Thatcher, Keith Joseph Memorial Lecture ("Liberty and Limited Government"), 11 January 1996