Julian Haviland, ITN
Mrs Thatcher, would people be less worried about the price increases you planned if you'd been able to say just how big they'll be?
MT
Er, well I hope they're not really worried about any price increases under us, not nearly as worried as they have been under Labour. After all even now under Labour government prices are rising at the level of very nearly 10 per cent a year. Ten … And remember it's 10 per cent on double the prices that were in existence when we [Haviland tries to interrupt] left office, so it's a very much bigger 10 per cent than we have.
Julian Haviland, ITN
I'm talking about budgetary action. All Sir Geoffrey Howe said today is that the price increases would be much less than the six and a half per cent in Mr Healey 's first budget. Makes them look quite big.
MT
Mr Healey, you see, two things—and Labour does tend to do two things—it not only put up the prices in budgets but it also put up the income tax as well. What we are saying is, that we might have to do a slight increase in prices on value added tax—on some things, not as you know on food, on mortgages, on heating, on housing or on public transport. All of those things clear. But at least you get the money back in your pocket and you can choose what you spend it on.
Julian Haviland, ITN
You don't think you've lost the argument on tax cuts because you couldn't say just how you'd pay for?
MT
Certainly not. No wise person can say exactly how any business is going to look in five year's time, still less how Great Britain can look in five year's time. We've won the argument on tax cuts, and I will tell you why. Because of the underlying reason which is in tune with what everyone believes. They work hard, they're entitled to keep more of the result of their own efforts to look after their own families, and unless they are allowed to do that they won't work harder. And if they don't work harder they don't get a higher standard of living and we don't have the money to help the old and the needy and have a better education system.
Julian Haviland, ITN
Has it been a mistake to put the future of the Price Commission in doubt? [end p1]
MT
Good heavens, no. Do you know while we've had a Price Commission we've had the biggest increase in prices that we ever known in modern times in this country. And you know they go to some very prosperous companies, very successful companies that provide job prospects, security and compete the world over in their products. Then what happens? The Price Commission comes in, puts in a lot of chaps who've never worked in that industry before and tends to divert everyone's attention to answering their questions. No, look at the record of the Price Commission. While we've had it, the biggest price increase in prices in our history.
Julian Haviland ITN
Moving to jobs, have you found people in some parts of the country frightened of your policy of reducing government help for industry?
MT
No, I've found—and particularly among the young people, we'll have more young people following us than ever before—what they want are genuine jobs with a future. Of course you can help them temporarily but only temporarily by artificial jobs. They don't want more artificial jobs. They want to go to work for a company or a business with prospects. We're not getting that under Labour. Temporary jobs can only keep people going for a short time, until such time as you can find a permanent job with prospects. I find a tremendous understanding of this, and they know that jobs with prospects will only come from new business or small business that's expanding. That's again why we have to have our tax policy.
Julian Haviland, ITN
Have not you and your colleagues changed your emphasis on this in areas of high unemployment?
MT
Not in any way. Perhaps … [Haviland tries to break in] I'm asked more questions about it, I'm asked far more questions … [Haviland tries again] … yes, of course.
Julian Haviland, ITN
Well, you're reported [MT: Mm] as saying in Darlington what you did not say in your manifesto that a Conservative government would maintain a strong regional policy.
MT
But you know we've had a strong regional policy for years and years and years.
Julian Haviland, ITN
Didn't say it in the manifesto.
MT
But we've had one … well have a look at The Right Approach to the Economy … well have a look and see what we did. Conservative parties always have a strong regional policy, we did under the last government, we did before that. You know it was Mr Healey who accused us of … said that we would cut out the regional employment premium. He cut it out in the end. No we've always had a strong regional policy and you will find a bit about regional policy in the manifesto. [end p2]
Julian Haviland, ITN
I would ask you lastly about the unions and ask whether wherever the fault may lie, whether this campaign has not shown a disturbing level of hostility towards your party by even moderate trade union leaders?
MT
Perhaps you didn't see the tremendous conference we had last Sunday on trade unionists for a Tory victory. Look, we believe that some of the leadership of the trade unions do not reflect their members. When it comes to democracy every person has one vote. Mr Basnett has one vote, Mr Murray has one vote, Mr Clive Jenkins has one vote, I have one vote. Each and every member of a trade union has one vote. We are getting more encouragement from the actual members of trade unions than we've ever had before, because they recognize that the things which I stand for have to be done and they're prepared to back us in doing it.
Julian Haviland, ITN
Thank you very much.