Thatcher

• assumed to be a temporary leader
• Conviction leadership dismissive of post war consensus
• why wasnt consensus working?

  • OPEC and stagflation
  • Environmental crIsis
  • Public sector strikes
  • culture wars - punks and skinheads
  • immigration problem
  • food shortages
  • imf loan
  • uncompetitive retreat from empire
  • RHodeida wasnt sorted
  • unemployment hit 3 million in 1981
  • real wages stagnant
  • taxes highest since ww2 - top nearly 90%
• what was Mrs thatchers solution?

  replace Attlean consensus and change government forever

  • incentive to work after reducing tax and government spending - monetarism
• thatcher believed in self reliance and improvement

  • road to serfdom influenced her - argued for liberal principles of small state as it interfered with individuals freedoms
• free market
• blamed welfare system for creating a dependency culture
• What did Thatcherism entail?

  • End subsidies to industries
  • Denationalise industries and lame ducks - coal, steel and water
  • Cut government spending
  • Cut taxes and incentivise work - pay rises - people start business
  • Union legislation
  • tackle inflation through this
• Geoffrey Howe was chancellor of exchequer whilst wets. Like Francis Pym nad Michael heseltine faced unimportant jobs