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Economist Stephen Moore said the Brexit vote and election of the billionaire tycoon could see the return of “Regan Thatcherism” – a “good thing” for both economies.

Mrs Thatcher had a famously close relationship with her American counterpart during their time in office, with the pair close allies as the Cold War came to an end, as well as being key advocates of free markets and free trade.

Speaking on Radio 4’s Today programme, the policy analyst said the UK moving towards a more American system of trade and foreign policy was a positive move.

He said: “I think that Britain did the right thing in leaving the European Union and I think the UK for the last 40 or 50 years has been really torn between whether it wants to adopt more of an American model – an open and free economy – or a more socialistic-leaning European model.

“And the fact that the UK seems to be moving more in the US direction I think is a good thing for both countries.”