April 8, 2019

HOW THE WAR ON WAGES WAS WON:

Margaret Thatcher 'changed the economy of the world' (Louise Armitstead, 08 Apr 2013, The Telegraph)

Lady Thatcher died on Monday aged 87, bringing praise for her efforts to transform Britain's moribund economy with ground-breaking policies such as privatisation, reducing trade union power and cutting taxes. [...]

Lord (Digby) Jones, former head of the CBI and DTI, said: "She set the business environment free; she gave a dictator a bloody nose; she freed up the individual from the undemocratic grasp of unrepresentative trades unionism. She changed a nation and very few people can say that about their time on this earth." [...]

Mark Littlewood, director general of the Institute of Economic Affairs, said: "The reforms Lady Thatcher introduced, though deeply controversial at the time, have subsequently become accepted wisdom."

John Cridland, the director general of the CBI, said Lady Thatcher "took the UK out of the economic relegation zone and into the first division. What Baroness Thatcher did to reshape the British economy gave us a generation of growth."

Sir David Lees, chairman of the court of the Bank of England and former GKN chairman, said: "She was prime minister in that awful period of 1979 with inflation rushing away and the trade unions being a significant menace to business. Her strength and courage are the two things I would pick out in dealing with them and giving business the confidence to address the trade unions. It is a huge legacy."

City veteran Brian Winterflood: "She was at the forefront of Big Bang. That put us in better shape, made us big and the pre-eminent financial centre of the world. She introduced the share owning and property owning democracies and gave us Sid."

Though, obviously, the central achievement of Thatcher/Reagan was permanently breaking inflation via central bank rate hikes and the assault on unions/wages.




Posted by at April 8, 2019 12:01 AM

  

« TORCHING HER LAST SHRED OF DIGNITY: | Main | THE GOOD NEWS ABOUT MODERN MAN: »