Born Again Thatcherites are preaching fiscal austerity to the unconverted

George Osborne's dedication to fiscal masochism is overlooking the markets' worries about growth.

As the Conservative-Liberal Democrat coalition embarks on Margaret Thatcher's Economic Experiment Part Two, and Lloyd George, Roy Jenkins and the departed members of the generation of "wet" Conservatives turn in their graves, I am occasionally asked whether I regret having been so hostile to Thatcherism, Mark One. The answer remains a resounding "no".

When the subject was raised the other evening, there came to mind a conversation I had with a former cabinet minister after the fall of Thatcher in 1990. He was a senior figure, and certainly not in the wet bracket with my friends Ian Gilmour, Peter Walker and Jim Prior. "She must be suffering," I ventured. My interlocutor stared hard at his lunch and picked up his glass. "Yes," he replied, "but is she suffering enough?"

This particular politician had once been a believer but was horrified by the extent of the social damage. It had not been as easy as he thought to reform the public sector without pain; and the simple monetarism he had espoused turned out to be seriously flawed. Now, it appears, it is a case of "here we go again", with our new chancellor congratulating himself in public for "taking the necessary courageous action".

The introduction of so called 'free schools'

As the Government create a 'free school' system for all middle class parents to set up in their own large homes. So under the new plans as tax payers we will be paying for individual parents and children creating their own schooling structure and content.

In the times of spending cuts, is this the most cost effective way of schooling and teaching our children. I guess the really question will be the cost per student. Will each child get an individual laptop / computer, how about day trips, parents currently have to pay a contribution will this continue under this 'Private free  school' system.

So the government is privatising the education system, as the so called 'free school' systems starts private business can start running Britain's education systems. So just think your child could soon be going to your local Coca Cola academy or your local Starbucks education centre.

Government sets out how to establish 'free schools'

The government in England is setting out how parents, teachers, charities and other groups can apply to set up their own "free school".

Free schools will be independent but funded by central government.

Ministers will launch an online guide saying groups must set out demand from parents, the school's aims, curriculum, teaching methods and possible sites.

The National Union of Teachers (NUT) says the policy will create "chaos" at a local level.

The free schools policy is one of the two key plans set to change the shape of England's schools system.