Margaret Thatcher and Thatcherism
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Margaret Thatcher and Thatcherism

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Questions and Answers

What was one of the primary goals of Thatcher's privatisation policy, as outlined in the 1987 Conservative Manifesto?

  • To create a 'capital-owning democracy' where citizens could exercise power over their own lives (correct)
  • To nationalise utilities and increase government control
  • To reduce the National Debt and increase annual subsidies
  • To increase taxes on investments and reduce shareholder returns

    • What was the effect of the Personal Equity Plan introduced by Thatcher's government?

  • It increased the burden of taxation on investors
  • It allowed people to invest in privatised companies without the burden of taxation (correct)
  • It limited the amount of shares that could be held by an individual
  • It prohibited foreign companies from owning British utilities

    • What was the primary consequence of the lack of ministerial accountability in the privatised utilities?

  • Increased government control and regulation of utilities
  • Improved customer service and reduced costs
  • Increased investment and improved quality of service
  • Poor service quality, increased costs, and decreased customer satisfaction (correct)

    • What is the primary reason for the decline in quality of utilities, according to the content?

    <p>Profit-driven motives of private owners</p> Signup and view all the answers

    What proportion of citizens held shares in privatised companies after Thatcher's policy?

    <p>1 in 4</p> Signup and view all the answers

    What was the primary ideology guiding Margaret Thatcher's economic policies?

    <p>Neoliberalism</p> Signup and view all the answers

    What was the primary outcome of Margaret Thatcher's privatisation program?

    <p>Transfer of control of major industries from public to private sector</p> Signup and view all the answers

    What was the nickname given to Margaret Thatcher due to her strong-willed nature and decisive approach to governance?

    <p>The Iron Lady</p> Signup and view all the answers

    What was the primary consequence of Thatcher's economic policies on the working class?

    <p>Social costs and negative long-term impacts</p> Signup and view all the answers

    What was the year when Thatcher's government began to significantly undertake privatisation?

    <p>1983</p> Signup and view all the answers

    Study Notes

    Margaret Thatcher's Leadership

    • Led the Conservative Party from 1979 to 1990
    • Known as the 'Iron Lady' due to her strong-willed nature and decisive ideological approach to governance
    • Implemented radical transformation of Britain's landscape during her tenure

    Economic Policies (Thatcherism)

    • Guided by the ideology of neoliberalism
    • Implemented corporate privatisation, sell-off of council housing, and anti-trade union legislation
    • Reshaped the role of government in the economy, labour relations, and industries themselves

    Privatisation Program

    • Transferred control of major industries from public to private sector
    • Started with British Telecom (BT) and British Airways in 1983
    • National Gas, Electricity, and Water companies were privatised between 1986 and 1991
    • Aimed to "spread the nation's wealth among as many people as possible"

    Impact of Privatisation

    • Reduced National Debt and ended ongoing annual subsidies
    • Shifted responsibility to the private sector
    • Allowed individuals to invest in newly privatised companies without taxation through the Personal Equity Plan
    • Increased the proportion of citizens who held a share in privatised companies from 1 in 14 to 1 in 4

    Criticisms of Privatisation

    • Led to a decline in the quality of service of Britain's utilities
    • Ended ministerial accountability to regulate services
    • Profit-driven motives of new owners led to cost-cutting measures, poor service, and high costs
    • Examples include:
      • British Energy companies' customer ratings fell to an all-time low
      • Customer service worsened, with hold times increasing by 75%
      • British Water industry is 71% owned by foreign companies, with high CEO salaries and benefits
      • 2.4 billion liters of water wasted daily due to leaks

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    Test your knowledge about Margaret Thatcher, Britain's first female Prime Minister, and her economic policies known as Thatcherism. Learn about her legacy, approach to governance, and impact on the nation.

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