The legacy of Nigel Lawson

Nigel Lawson was the most consequential chancellor in modern British history. He gave the world a case study in how to overturn a failed consensus. He was guided throughout his political career by the political principles articulated when he was editor of this magazine. His legacy is so rich that it offers a wide choice of lessons, three of which stand out for Rishi Sunak today.

The first is one that the Prime Minister himself writes about in his article – the importance of preparing for battles. Lawson wanted lasting change and realised that radicalism is pointless without strategy. Tax can only ever be a reflection of the spending rate: to cut tax revenue without spending restraint will only ever lead to the restoration of high taxes. So a reformer first needs to win the argument that a bloated state makes for a weaker economy and society.

To look back on the early Lawson years is to marvel at his work as an eloquent and tireless advocate for the change the country so badly needed, taking on critics at every turn, arguing patiently but unceasingly.

Which brings us to the second point, too quickly forgotten by the new breed of big-state Conservatives – that Lawson drew far more tax from the best-paid by giving them the biggest tax cut in history.