What were Thatcher economic policies?
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What were Thatcher economic policies?
Thatcherism attempts to promote low inflation, the small state and free markets through tight control of the money supply, privatisation and constraints on the labour movement.
What is Margaret Thatcher best known for?
Margaret Hilda Thatcher, Baroness Thatcher, LG, OM, DStJ, PC, FRS, HonFRSC (née Roberts; 13 October 1925 – 8 April 2013), was Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party from 1975 to 1990.
Who was Prime Minister after John Major?
List of prime ministers
| Name | Time in office | Political party |
|---|---|---|
| Gordon Brown | 2007 – 2010 | Labour |
| Tony Blair | 1997 – 2007 | Labour |
| John Major | 1990 – 1997 | Conservative |
| Margaret Thatcher | 1979 – 1990 | Conservative |
What caused the three day week?
To reduce electricity consumption, and thus conserve coal stocks, the Conservative Prime Minister, Edward Heath, announced a number of measures under the Fuel and Electricity (Control) Act 1973 on 13 December 1973, including the Three-Day Work Order, which came into force at midnight on 31 December.
When did the winter of discontent start?
1978 – 1979
Winter of Discontent/Periods
What did Thatcher do for the UK economy?
In 1979, Mrs Thatcher was elected Prime Minister of the UK. At the time, the UK was experiencing double-digit inflation, trades unions were powerful and there were signs British industry was becoming increasingly uncompetitive. Mrs Thatcher introduced revolutionary economic policies which had a deep impact on the UK economy.
What were some of Margaret Thatcher’s policies?
Here are some of the most high profile policies during the Thatcher premiership. Based on the monetarist theories of Milton Friedman, the base interest rate was raised to 30\% in 1979, in order to try and bring down inflation. Despite this, inflation peaked at 20\% in 1980.
What was Thatcher’s policy of monetarism?
Monetarism In the early years of the 1980s, Mrs Thatcher embarked on a policy of Monetarism. This involved trying to target the money supply to reduce inflation.
How did the Thatcher government respond to the miners’ strike?
After a year-long strike, miners went back to work without receiving demands. This marked an important turning point in industrial relations. The Thatcher government also passed legislation to make it harder to strike – policies such as banning closed shops – banning secondary picketing. Income tax cuts.