Lord Lamont, who served as a Treasury minister under Baroness Thatcher, before becoming chancellor under John Major said: "The name Margaret Thatcher will always be synonymous with the word 'courage'.
"She had more courage than anyone I have ever known. The word impossible barely existed for her.
"We shall not see her like again."
The death of Baroness Thatcher dominates all of the UK newspaper front pages today.
Baroness Thatcher, who was Britain's prime minister for over a decade, has died today aged 87 after suffering a stroke, her family said.