Margaret Thatcher had an “IT” bag long before high-priced designer handbags by makers such as Hermès or Fendi became popular best-sellers. Last year her famous Asprey handbag fetched £25,000 at auction. She is best known for her blue suit, her string of pearls and her pussy bow power dressing. But one of my favourite images of her is the picture above that was taken when she attended a pro-European market rally. I love the way she used fashion to communicate. I really can’t think of many people who could carry off that European flag jumper. The Iron Lady truly is a style icon whose look defined an era.