On coming to power in 1979, with a majority of 70 and 43.9% of the vote, Thatcher was in prime position to implement her unique form of economic policies, which came to be known as Thatcherite. Thatcherism had two elements to it: it was an attempt to introduce historically different policies; and an attempt to replace the consensual and cooperative policy style of British government with a more centralised and directed way of conducting things. The most important features within her economic policies were threefold. The first involved an attempt to radically change the structure of ownership in the community (in the 1980s the government privatised nearly half of what had been public owned in 1979). Secondly, Thatcherism aimed to change the structure of rewards: it cut the tax bills of the very rich…(short extract)
