British Culture class April 24th 2013

What changes did Margaret Thatcher bring to Britain?

1. Her supporters would say the most important change she made to the UK was that she 'cured' the British disease. When she became prime minister in 1979, the British economy was in trouble. There were many strikes and the trade unions were very powerful. Because of this, many foreign companies were unwilling to invest in the UK. Thatcher destroyed trade union power. Her critics would say that she also destroyed much of British manufacturing industry in the process.

2. Thatcher brought great change to the way the London Stock Exchange worked. She wanted to make it easier for people to make money. She encouraged business and thought that individuals should be encouraged to 'get on in life', by owning their own homes and by owning shares in companies. She sold off council houses, allowing the owners to buy their homes very cheaply. She sold off many nationalised industries. In particular, services that everyone needs in their daily life, and which had been run by the state, were sold off: gas, electricity, water and telephone. Her critics said she was selling the family silver.

2. Thatcher was unusual in a politician in that she was not afraid of speaking her mind. She made friends (and enemies) by doing so. Her biggest friend was Ronald Reagan. The American president liked her and respected her, and she did him. Together they brought the Cold War to an end (so their supporters would say). The Soviet Union collapsed. In 1982 Thatcher sent the Royal Navy to fight Argentina in the South Atlantic. The Argentinians had invaded the Falkland Islands, a group of islands which belong to Britain, but which the Argentinians feel should be theirs. The population of the Falkland Islands is about 3,000 people, the vast majority of whom want to stay British. The war with Argentina made Thatcher a very popular leader in the UK. Thatcher was no friend to the Irish, and it very nearly cost her her life. In 1984 the IRA planted a bomb in the Brighton hotel where Thatcher was staying. She was lucky to escape unharmed.