My policies are based not on some economics theory, but on things I and millions like me were brought up with: an honest day's work for an honest day's pay; live within your means; put by a nest egg for a rainy day; pay your bills on time; support the police.

Any leader has to have a certain amount of steel in them, so I am not that put out being called the Iron Lady.

When we hear (as we sometimes do) that (Russia's) economic output is about half the level of a decade ago or that real incomes have fallen sharply, it is worth recalling that economic statistics under the Soviet Union were hardly more reliable than any other official statements. Moreover, a country that produces what no one wants to buy, and whose workers receive wages that they cannot use to buy goods they want, is hardly in the best of economic health.

Nevertheless, the Tenth Commandment-'Thou shalt not covet'-recognizes that making money and owning things could become selfish activities. But it is not the creation of wealth that is wrong, but love of money for its own sake. The spiritual dimension comes in deciding what one does with the wealth. How could we respond to the many calls for help, or invest for the future, or support the wonderful artists or craftsmen whose work also glorifies God, unless we had first worked hard and used our talents to create the necessary wealth?

We speak of peace, yes, but whose peace? Poland's? Bulgaria's? The peace of the grave?

The West as a whole in the early 1990s become obsessed with a 'peace dividend' that would be spent over and over again on any number of soft-hearted and sometimes soft-headed causes. Politicians forget that the only real peace dividend is peace.

I calculate that I was responsible for proposing the elevation to the Lords of some 214 of its present numbers.