There are significant differences between the American and European version of capitalism. The American traditiionally emphasizes the need for limited government, light regulations, low taxes and maximum labour-market flexibility. Its success has been shown above all in the ability to create new jobs, in which it is consistently more successful than Europe.

John Gummer just did not have the political clout or credibility to rally the troops. I had appointed him as a sort of nightwatchman, but he seemed to have to sleep on the job.

Being prime minister is a lonely job... you cannot lead from the crowd.

I am always on the job.

My job is to stop Britain from going red.

There might be new technology, but technological progress itself was nothing new - and over the years it had not destroyed jobs, but created them.

When government does its job properly people are free to do theirs.