Quote Originally Posted by Elite_Pie View Post
On a similar note:

"Margaret Thatcher squandered billions from North Sea oil on a short-term consumer boom when she should have invested it, Lord Heseltine told Holyrood last night. The former defence secretary said the focus on personal consumption, fuelled by tax breaks, was a key failing of the “Thatcher philosophy”. He said: “This country over consumes and under invests. If I have a criticism, which I do, of the Thatcher philosophy... they had the incredible windfall of North Sea oil and basically it was spent on consumer boom".
Heseltine was at the heart of that government, but never forgave the Tory Party for not electing him leader . I remember him reminiscing on his early business life, and being asked how he kept his head above water, and succeeded . His philosophy was that if he was pressed for cash he sent the supplier's cheques out but didn't sign them. That must have helped " small business" no end .

In 1992 Heseltine closed 31 of British Coal's 50 pits with the loss of 30,000 jobs. A large number of the the mines were in Nottinghamshire, perhaps he might have considered investing instead of whinging 30 years later . He continues to be a legend in his own mind.