To combat the trade unions to cut taxes cutting public spending to sell off companies owned by the government and reduction in subsidies to many businesses to deregulate banks and the financial sector (taking away rules on borrowing and leaning money
- Her policies led to skyrocketing unemployment: 1 million (150,000 under 25)
- Her agressive attitude towards those less well off upset many "there is no such thing as society"
- cuts to the social spendinf and benefits impacted negatively on the poorest in society
- homelessness grew and economic inequality increased
- there was a clear North/South divide in terms of the wealth with many industries based in the North dying (miners strike)
- there was a move away from manufacturing industries (mining) to the 'service economy'
Thatcher's Policies actually worked
- Low taxes= Businesses from aboard came and invested here, creating jobs
- The sale of council houses meant that many people became homeowners for the first time
- increases in borrowing meant that people had money to spend which created a market for better/luxury consumer goods.
- the 'City of london' became one of the world's financial capitals. British business and banks became global powers
- Critics of Thatcher argue that these changes made people selfish, greedy and destroyed a lot of our shared values (labour values)
- The 'Essex Man' stereotype embodies this-working man made rich by Thactherism.
Thatcherism was so important as it created the country we live in today
A consumerist, capitalist country where making money and owning property are valued, with the City playing a huge role in our economy.
A de-industrialised service economy