Chancellor of the Exchequer George Osborne believes Lord Heseltine's report into economic growth can help the Government.
In a statement, the Conservative MP said: “I wanted Lord Heseltine to do what he does best: challenge received wisdom and give us ideas on how to bring Government and industry together. He has done exactly that. This is a report bursting with ideas and we will study it very carefully.”
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Former Chancellor Lord Geoffrey Howe was Margaret Thatcher's longest-serving Cabinet minister, also taking on the role of Foreign Secretary.
Lord Geoffrey Howe is known by many for his resignation speech which was seen as the catalyst which destroyed Margaret Thatcher.