‘I’d like to be prime minister at 70,’ said young Mogg

A 12-YEAR-OLD Jacob Rees-Mogg confidently predicted that he would be prime minister by the time he is 70, according to newly unearthed decadesold television footage.

In the film – uncovered by Lord Ashcroft for his biography of the politician – Mr Rees-Mogg said that his twin ambitions were to run General Electric when he was 30 and to make it to No 10 when he was 70.

Mr Rees-Mogg first became interested in the stock market aged 10, when his father invested £50 for him.

He studied how his shares were performing and by 12 was attending shareholder meetings, quizzing the chairman and voting against proposals he thought were a bad idea.

The film shows Mr Rees-Mogg striding into a branch of Barclays in a double-breasted beige overcoat with a newspaper under his arm.

The interviewer describes how Mr Rees-Mogg hit the headlines in 1981 when he criticised General Electric for its “pathetic” dividend policy.

At the time, GEC was one of six companies in which Mr Rees-Mogg owned shares.

Sporting a “Vote Maggie” badge in support of Margaret Thatcher, the 12-year-old tells the cameras: “I have always been interested in money and I have always wanted to have money.”

Mr Rees-Mogg said: “I like playing cricket and snooker and also reading and listening to Mozart.”

Asked if any of his friends shared his interest, he replied: “No, my friends don’t share this interest at all.”

On his future, he said: “I am going to continue buying and selling shares. And I also hope to become managing director of GEC at 30 and I would like to be prime minister at the age of 70.”

Mr Rees-Mogg never did become managing director of GEC, a major UKbased industrial conglomerate in the Eighties and Nineties, which folded 15 years ago. But he did build a successful investment management company called Somerset Capital.

As for his other ambition, he is only 50 years old.

Jacob’s Ladder: The Unauthorised Biography of Jacob Rees-Mogg still