Interesting what the Guardian has to say. For a paper it is a reasonably balanced article.
However the failure of the industrial side of the argument is the lack of comparison with the iron and steel industry of Germany, France and the US.(The traditional heavy industries)
   In the background behind the politics a major hollowing out of industrial base occurred throughout the western world, accompanied by the growth of globalism and cheap raw material imports and manufactured goods.
Japanese goods were once laughed at. As Farage would say you are not laughing now! Oil supplanted coal for transport and power generation,
both before and after Maggie. You need to take a comprehensive overview of what changed postwar to the millenium and beyond.
I would argue no politics could have prevented these changes and bleating for a past(imagined)golden age is futile. With the digital age the changes are accelerating. How many high streets have been emptied and shopping malls teetering on bankruptcy because of the onslaught of online shopping. We have yet to see robots reach eveen close to their full potential.Accountants can make a mistake, relational databases do not. That is the future and many back office jobs can be automated. Robots do not drink tea all day, chatter,skive off and go home after 7 or 8 hours. Politicians can have a limited input to attempt to guide these changes, not to stop them.


   If you wish to consider facts in isolation,or judge in terms of political dogma, you place your head in sand and further rational discussion is futile


https://www.theguardian.com/politics/2013/apr/12/thatcher-britain

We have of course had these discussions before but when rationality hits blinkered dogma sensible dialogue takes a hike.