The Mudcat Café TM
Thread #150275   Message #3505724
Posted By: Steve Shaw
19-Apr-13 - 08:49 AM
Thread Name: Obit: Margaret Thatcher Dead (1925-2013)
Subject: RE: Obit: Margaret Thatcher Dead (1925-2013)
You want a capitalist system, Maggie was the only one who could make it competitive. She tackled the problem of our obsolete manufacturing sector and working practices.

Margaret Thatcher's 1979 election campaign's main theme was that Britain wasn't working under Labour, accompanied by a poster depicting a dole queue. After four years in power, she had almost tripled Labour's unemployment rate, and it was still virtually double Labour's rate by the end of her regime. On top of that she put an extra two million people out to grass on permanent "incapacity benefit", mostly in mining, steel or shipbuilding towns. Most of those people were not incapacitated at all, but that was a convenient way of making the unemployment figures, terrible as they already were, not look totally apocalyptic, which is what they were. There was a recession at each end of her rule. She never achieved growth of more than 2.2% at best. At the end of her reign, inflation was still at almost ten percent and mortgage rates were around 14 percent. The gap between rich and poor widened, as did the pay gap between men and women. Margaret Thatcher deregulated the City to such an extent that even some right-wing Tories were gobsmacked, and that deregulation (sadly, never addressed by Blair/Brown) led directly to the irreponsible behaviour that got us into the present mess and which cost the taxpayer hundreds of billions in order to bale out your precious capitalism. Still, ake, never mind. You don't want facts to be getting in the way of your prejudice, do you?