Former British Prime Minister Margaret Thatcher has died, aged 87, following a stroke.

The Baroness’ spokesman Lord Bell said: “It is with great sadness that Mark and Carol Thatcher announced that their mother Baroness Thatcher died peacefully following a stroke this morning.”

Thatcher, who was Britain's first female Prime Minister, has been suffering from ill health for a number of years.

David Cameron has already commented on the news. He tweeted: “It was with great sadness that I learned of Lady Thatcher’s death. We’ve lost a great leader, a great Prime Minister and a great Briton.”

Buckingham Palace has also said that the Queen is sending a private message of sympathy to the family.

According to reports Thatcher will not have a state funeral but will be accorded the same status as Princess Diana and the Queen Mother.

The ceremony is due to take place at St Paul's Cathedral in London.

Thatcher was Britain's first female Prime Minister.