Encouragement is the most important thing in the world for young people, rather than league tables, which demoralise everyone.

The nature of the economic system should be a matter for public choice, and free market capitalism should not be accepted without any discussion of the rich variety of alternatives ... Unlike civil laws, economic laws are imposed on people with all the authority of immutable laws of nature. But the economy is created by people, supported by government intervention, regulation, statute and subsidy, and implemented in such a way that it gives substantial wealth and power to a privileged few, while the majority face a life of relentless work, stress and periodic financial insecurity.

If I were the American President I would rather be popular than have the power the destroy the world because however many puppets they have all over the Middle East - Saudi Arabia, Egypt and so on - they haven't got support from the people.

In developing our industrial strategy for the period ahead, we have the benefit of much experience. Almost everything has been tried at least once

If one meets a powerful person - Adolf Hitler, Joe Stalin or Bill Gates - ask them five questions: 'What power have you got? Where did you get it from? In whose interests do you exercise it? To whom are you accountable? And how can we get rid of you?' If you cannot get rid of the people who govern you, you do not live in a democratic system.

Undoubtedly the war with Iraq was a tragedy. I think it was also a crime.

It is obvious I shall have to abandon my hopes of getting the Queen's head off the stamps.