CBI director-general John Cridland has joined tributes to Baroness Thatcher, who has died aged 87.
According to her family, Baroness Thatcher, the former Conservative prime minister, died after suffering a stroke.
“Baroness Thatcher’s leadership took the UK out of the economic relegation zone and into the first division. What Baroness Thatcher did to reshape the British economy gave us a generation of growth,” said Mr Cridland.
Prime minister David Cameron said his predecessor was a "great Briton" and the Queen also reportedly spoke of her sadness at the news of Lady Thatcher’s death.
Lady Thatcher was Conservative prime minister from 1979 to 1990 and was the first woman to hold the role.
According to reports there will be no state funeral to mark the occasion, but will be accorded the same status as Princess Diana and the Queen Mother.
Her funeral will take place with full military honours at London's St Paul's Cathedral.
The union flag has been lowered to half-mast above above Number 10 Downing Street.