Tory privatisations: Redwood on convincing Thatcher

Margaret Thatcher had to be convinced about the merits of privatising - or denationalising - UK state industries ahead of entering government in 1979, the former head of her policy unit has said.

John Redwood MP explained how she thought it was "wacky" and he had to make the case for the policies that later saw water, rail, phone, and airport services among those sold off.

And there are other potential sell-offs to come from the current government, including banks, the Ordnance Survey, Royal Mail and Royal Mint.

Jonathan Portes, from the National Institute of Economic and Social Research, said whoever was in power would probably have to continue with selling off assets. Giles Dilnot reports.

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