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Industry and Education

Part of the debate – in the House of Commons at 3:58 pm on 21st November 1994.

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Photo of Mr Michael Heseltine Mr Michael Heseltine President of the Board of Trade 3:58 pm, 21st November 1994

I know what the House would do if I pursued the logic of the hon. Gentleman's argument. The first time that money was raised to threaten a constituent company of the hon. Gentleman, he or it would be in my office saying that it was unfair. The first time that the Royal Mail invested overseas and lost money, the Labour party would demand a statement. The first time that anything within the activities of the organisation became politically sensitive, demands would be made for a debate in this place. The House has always behaved in that way, and I believe that it always will. The short-term political opportunism of Opposition Members will always override this country's commercial interests. That is why the only way forward is to liberate Britain's wealth-creating processes from state ownership and put them into the hands of the private sector, with all its existing accounting disciplines.