Mr Redwood, who was her chief policy advisor during the 1980s, hailed Mrs Thatcher as "the best boss I ever worked for".
He said: "To be the first woman Prime Minister would be achievement enough for many women, but not for Margaret. She didn't just want to hold the office, but to use it to improve and change the country she loved.
"She inherited a strike ridden and poor country with high inflation and too much debt. She passed on a country of good repute. She showed courage, dignity and honesty in equal measure as she sought to slay the dragons that she felt had damaged Britain."