Never a truer word

In our system, under our principles, the government is there to serve and satisfy the liberties of the people under a system of sound finance and free enterprise. Under the socialist system the people are the servants of the government, without the fundamental rights of liberty. And never forget that fundamental distinction.

Of course, there are differences, there are gradations. But, my friends, the danger with socialism, I will tell you, is that you might lose your liberty little by little, with more and more regulation, with more and more nationalisation, with higher and higher taxation, until you look up one day and find a lot of it has gone. If you look already at the regulation, if you look already at the level of taxation, you find the freest countries, which are the most prosperous and most successful because they have free enterprise and freedom, are countries like the United States where the government takes only 33 per cent of the Gross National Product.

They are the most successful, the most creative country in the world, getting the latest ideas, the latest technology into production faster than anyone else.

1996 Oct 1 Tu, Margaret Thatcher.
Speech to the European Foundation (“Freedom, Economic Liberty and the Rule of Law”).

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