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On leaving the Commons, Thatcher became the first former British prime minister to set up a foundation; [293] the British wing of the Margaret Thatcher Foundation was dissolved in 2005 due to financial difficulties. [294] She wrote two volumes of memoirs, The Downing Street Years (1993) and The Path to Power (1995).
Thatcher was committed to reducing the power of the trade unions but, unlike the Heath government, adopted a strategy of incremental change rather than a single Act. Several unions launched strikes in response, but these actions eventually collapsed. Gradually, Thatcher's reforms reduced the power and influence of the unions.
Margaret Thatcher. Thatcher formed a government on 4 May 1979, with a mandate to reverse the UK's economic decline and to reduce the role of the state in the economy. . Thatcher was incensed by one contemporary view within the Civil Service that its job was to manage the UK's decline from the days of Empire, and wanted the country to punch above its weight in international
Milton Friedman said that "Margaret Thatcher is not in terms of belief a Tory. She is a nineteenth-century Liberal". [10] Thatcher herself stated during a speech in 1983: "I would not mind betting that if Mr Gladstone were alive today he would apply to join the Conservative Party". [11]
A notable protest came from Thatcher's former cabinet minister Norman Tebbit at the 1992 Party Conference, that the Conservatives had been wrong to ignore Thatcher's wishes to stay out (whether Britain entered the ERM at too high an exchange rate has been debated ever since).
Margaret Thatcher believed in individuals taking responsibility for their own well-being. There's no question that's even more important today, especially when it comes to saving for retirement.
The failure of Thatcher’s experiment with monetarism would probably have cost her the 1983 general election, had it not been for the military victory over Argentina in the Falklands war in 1982.
Thatcher's first term as Prime Minister had not been an easy time. [2] Unemployment increased during the first three years of her premiership and the economy went through a recession. However, the British victory in the Falklands War led to a recovery of her personal popularity, and economic growth had begun to resume.