THE ECONOMIC REFORMS brought in by late prime minister Margaret Thatcher eventually led to today’s financial turmoil, according to Accountancy Age readers.
Of the nearly 200 readers polled, 60% felt policies such as privatising state-owned industries and de-regulation of financial services fired the starting gun for an economic process that culminated in the 2008 financial crisis and today’s economic sluggishness.
The remaining 40%, however, felt Thatcher’s actions steered the economy to safety from what had been an extremely low base.
When Thatcher came to power in 1979, Britain was derided as the ‘sick man of Europe’, with its previously strong manufacturing industry falling behind the US, Japan and Europe in terms of productivity and quality.
She died on 8 April this year having served as prime minster for 11 years between 1979 and 1990 and was one of the most divisive political figures of modern British history.
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