Thatcher 86-89

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  • Thatcher 86-89 (stage 2)
    • Deregulation
      • finance: credit and exchange controls abplished
      • education: schools entitled to opt out of state sector and become responsible of own finance
      • housing: opportunity to give tenants the right to but their council houses
    • Privatisation
      • policy aimed to increase 'popular capitalism'
      • 50 enterprises sold off - eg. British airways/British steel/British coal
      • encouraged banks to advance larger loans to their customers.
    • Debate over D + P
      • Shift in employment, although painful, was necessary - need to shed wasteful practises
    • Taxation under Thatcher
      • Period of low taxation
      • Significant reduction in income tax
      • Overall tax bill for ordinary people not greatly altered  - due to increase in VAT
    • Westland Affair 1986
      • Unity did not prevail in govt - Heseltine proposed to save failing helicopter company by making it apart of Eu. consortium
        • Different package put forward by Industry Secretary, take over by American business. M/T backed this
          • H resigned 2 weeks later - M/T shown to be bullying and subservient to Reagan and USA
    • 1987 ELECTION
      • Westland did not harm election, gained popular vote but lost 22 seats


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