I’m so glad the everyone is paying attention :rolleyes:
Did any of you read my previous post about the economic conditions which led to the election of the first Thatcher government ?
It is true that Labour were unelectable, firstly because of the economic chaos caused by the oil price shocks and its subsequent fall out on interest rates and industrial output, but the other main reason was Labours adoption of a pacifist stance, its commitment to unilateral nuclear disarmament at a time of international tension.
The policy of disarmament was widely seen as being imposed by a tiny minority of Labour party membership and against the wishes of the vast majority.
The way it was done was seen as completely undemocratic and many Britons felt that their views had not been taken into account.It certainly played a major role in Thatchers third term re-election as it was widely recognised by all, including the conservative party, that Labour had run a far better campaign.
I have to grin at the comment by a previous poster about the left-wing press in the UK.
Fact is that 90% of national newspaper output is owned by just 6 men and headlines such as
“It was the Sun wot done it” following Conservative re-elections shows up this canard for what it really is, the fact is that the British press are extremely partisan and are very much on the Conservative side of the debate.
Right lets get back to what really happened.
Before the Conservatives were elected for that first term in office much publicity was generated by their leaders in going to other countries to look at the way things worked and stating that we should use the same methods.
These visits tended to be to the US which, it must be said, was more succesful than ours, and there were some visits to Japan.
You will note that there were no such high profile trips to Germany
which is not surprising since although it was very succesful, used a far more interventionist and socialist method of industrial management.
For all the bows and handshakes on visits to Japan it completely escaped the Conservatives that Japans success was built upon cheap loans, very heavily controlled import regimes and simple stealing of other nations trademarks.
Japans shipbuilding and steel industries were very heavily state assisted and major industrial groups owned their own banks which were able to raise capital far more cheaply to lend to their industries than UK companies were able.
We did heavily subsidise coal, and steel production in the UK and we did put incredible amounts of money into supporting the car industry, but looking back one should note that all our competitiors did exactly the same.
Renault soaked up immense amounts of French taxpayers money, but it worked because it is now highly profitable.
The mining industry was always competing against world producers who got even more state support.
What I am saying is that Thatchers methods were not employed everywhere and wherever they were employed they resulted in mass unemployment, and yet the exact opposite of her methods did prove very succesful for Japan, France, Italy and Germany.
To say that Thatcher invigorated the UK economy is to fail to look at succesful outcomes using differant methods elswhere.
It was not necessary to destroy the UK as a major manufacturing centre, and it set us back decades in economic terms, it really did not have to be the way Thatcher made it.