Question: Some people have said that the Conservative Party is being too slow in coming up with detailed policies and that they are too focused on presentation - what is your view?

Lord Lamont: David Cameron has said that they don't wish to release policies too early and there a number of policy reviews underway.

I think it's wise to take your time on policy - you don't want to come out too early with your detailed ideas because they are liable to get lifted by the opposition. Having said that, I accept the point that he has got to develop more policy content.

He is a charismatic leader, he has done well in making the Conservative Party more voter-friendly but I think we do need more policies more quickly.

I know David quite well and I know him to be a more thoughtful, clever person who has his views.

He has also worked as a media adviser for Carlton Television so he has a media strategy, but he does have views and I am sure that will emerge more and more. They have to.

We do need to develop ideas that are attractive and that will have a positive effect in persuading people to vote for us.

The smaller state is at the heart of Conservatism and I think ideas have to be developed around that concept.

The challenges are obviously different today compared to Mrs Thatcher's time but it would be a mistake to assume that these are calmer, less troublesome times. There are things that need tackling and what Cameron has to show is that he has the policies to deal with those issues.

He is going to have to come forward with some policies on law and order, to deal with the high level of taxation and I don't believe immigration can be kept off the agenda. John Reid rightly said that it was a silly idea that anyone who talks about it is a racist.

Question: As a eurosceptic you must be disappointed that the Conservatives seem to have backtracked on repatriating powers from Brussels and leaving the European People's Party?

Lord Lamont: I am strongly eurosceptic and I am confident David Cameron is as well.

I never thought the question of our membership of the EPP was something that could be resolved quickly. If you want to build an alternative alliance it is always going to be difficult to find other partners.

In terms of the European parliament, the committees and finance there are reasons why you want to be more than simply a national party and it is taking time to work things out.

I never thought it would be easy and Cameron, in the end, pursued it but I'm not as worked up about it as some of my eurosceptic friends are.

Question: Do you believe, as some have suggested, that the Conservatives need an equivalent to Labour's 'clause four moment' to convince voters they have changed?

Lord Lamont: It would be extremely foolish for David Cameron to try and engineer a Tory equivalent to Labour's move, and I don't believe that he is trying to do that.

Clause four was the embodiment of a very mistaken, foolish philosophy - there is nothing comparable for the Conservative Party.

To say you want to seek a quarrel regardless of the merits of it would be a mistake

You have to balance your appeal to open-minded voters who can be persuaded to switch their vote with keeping one's core voters as well.

Core voters have the option of abstention, which is a rapidly growing party in the British political system.

Question: Is that a dangerous thing for British politics?

Lord Lamont: If naturally loyal voters of any stripe feel they don't have a natural home in their party any more it is a very dangerous thing.

Mrs Thatcher constantly increased her vote during her time in office, which is in sharp contrast to what has happened during Tony Blair's time as prime minister when both Labour and Conservative votes have fallen.

We must not drift into a situation where there are more and more abstentions and that is the option open to core voters.

Question: What is you assessment of Gordon Brown's chancellorship?

Lord Lamont: Gordon Brown in his early years as chancellor did do very well, not least because he stuck to Conservative spending plans that a Conservative government probably couldn't have stuck to - I don't know how he got away with it.

Despite doing well in his first term the advantages of the Thatcher/Conservative revolution are being gradually eroded.

When Labour came to office in 1997 there was a seven per cent gap between the burden of tax in Germany and the UK in Britain's advantage. Now it is a half per cent gap in Germany's favour.

The amount of regulation is also having an adverse effect on competitiveness and all the surveys of international businesses indicate Britain is sliding down the league table of places to invest and to do business in.