Margaret Thatcher RIP

Margaret Thatcher RIP.

Margaret Thatcher died today after another stroke.

Love her or hate her, the ‘Iron Lady’ made a huge contribution not just to British politics but to putting the UK back on the National Stage.

Mining communities will have been devastated by her tough non-negotiable approach. Poll Tax protesters will have been angry at having to pay a flat fee for the services that we all share and benefit from.

Our view
In 1976, the pound hit an all-time low against the dollar. It was Britain that faced a financial crisis in 1976 not Greece, Spain or Cyprus.

In 1976, it was Britain that was forced to apply for a $4 billion loan as we were on the verge of bankruptcy. That is the equivalent today of around $20-$25bn.

Britain also took further loans from the so called “big nine” economies. Late 1970’s - The Winter of Discontent under Labour, power shortages, the three day week. Under Labour (Wilson) the Conservatives (Heath) and then Labour (Callaghan), Britain had been brought to its knees.

1979 - Margaret Thatcher became Prime Minister with Britain having record public sector debt. She fought for the rights of the people.

Under Thatcher, more Britons were able to buy a home and many bought their council house, making them wealthier.

Under Thatcher, the Falkland Islanders were supported by her and our forces protected that right.

Under Thatcher, more Britons were able for the first time to buy shares – British Gas, British Telecom etc. PEPS. We became a nation of investors.

Thatcher was then ousted in 1990 and standing down as an MP in 1992. Labour came into power in 1997 with the UK having no budget deficit i.e. a balanced budget.

Look what has happened since. We are yet again at record public sector debt.

Margaret Thatcher is a legend and was one of our greatest ever leaders. Love her or hate her. The facts are that she took the country from the brink of bankruptcy and set us on our way to be debt free and a balanced economy, with more people owning our own homes. Her work has been undone in the last 20 years.