Lord Young was recognized on the public stage by his familiar bow ties. A prolific contributor to public life, his last article for The Telegraph was published on 7 December.
Earlier this year, he called for exams to be replaced by continuous assessment.
Lord Lee of Hurley, the Conservative Party’s long-serving senior treasurer, told The Telegraph: “David Young was a role model for generations of Conservatives. Margaret Thatcher said other people bring me problems, David brings me solutions.
“Such was his effectiveness that decades later David Cameron invited him back into government to help help business grow and particularly in the technology sector, where even into his 90s he was active. .”
Originally a solicitor, David Young ran a number of businesses in the UK and abroad, including Cable and Wireless, and devoted a huge amount of his time and energy to philanthropic causes.
Sometimes referred to as Mrs Thatcher’s favourite, Lord Young began his rise in politics as chairman of the Human Resources Committee and was appointed to the Lords in 1984.
Lord Young was made a Companion of Honor in the 2015 New Year Honours. He retired from the Lords earlier this year.
Lord Lee added: “Lord Young has always been proud of his Jewish heritage and for many years was regarded as a leader of the Jewish lay community.
“He was a devoted family man, married to Lita throughout, who survives him along with his daughters, Karen Judith, and many grandchildren and great-grandchildren. He expressed his views on all kinds of geopolitical issues for the benefit of others until his last days. “
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