Spend spend spend! Everyone is reaching for the magic money tree, says LEO McKINSTRY

SPEAKING to the 1983 Tory Conference about her tough approach to state expenditure, Margaret Thatcher declared: "It is no good thinking that someone else will pay. That someone else is you. There is no such thing as Government money. There is only taxpayers' money." The Iron Lady was absolutely right. National prosperity cannot be built on debt.