Margaret Thatcher on Denis Healey

“The right hon. Gentleman will be known for ever as the only Chancellor in the post-war period who brought this country to the brink of bankruptcy.”

“[T]he defence budget is one of the very few elements of public expenditure that can truly be described as essential. The point was well-made by a robust Labour Defence Minister, Denis (now Lord) Healey, many years ago: ‘Once we have cut expenditure to the extent where our security is imperilled, we have no houses, we have no hospitals, we have no schools. We have a heap of cinders.’”