Mark Anderson is the headteacher of Huntingtower Primary School in Grantham. He says he hopes the children will be inspired by what former pupil Margaret Thatcher achieved.
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Detectives are appealing for information to trace a man they want to speak to in connection with the incident.
Thomas McMeekin was showing off in his new car before the crash, which left two young boys dead and two others with life-changing injuries.
High levels of bacteria have been detected in the local water supply in parts of Thorne in Doncaster.