Margaret Thatcher: Difference between revisions

On the other hand, her economic policies came under fire - and not just from her opponents. Her policies had the initial effect of exacerbating the early 1980s recession. Unemployment rose to its highest level since the Great Depression. Three hundred and sixty-four leading economists released a statement in 1981, criticising her handling of the economy. Even when the economy began to recover, unemployment still hovered around the three million mark and the British heavy industrial sector took a major hit, with manufacturing output declining by 30% since 1978. If it was not for the outbreak of [[The Falklands War]], Thatcher probably wouldn't have been re-elected.

 

 

What can be said is her time as Prime Minister resulted in a significant disembowelment of the trade union movement. Whether this is a good or bad thing depends on what your views on unions are. Similarly, Britain's heavy industry sector was sidelined, and the UK became a net importer of goods for the first time in modern history. Again, whether you think this is good or not depends on whether you think the UK should have a manufacturing economy or a service economy.