How far was Maragaret Thatcher to blame for her downfall Essay

How far was Maragaret Thatcher to blame for her downfall - Essay Example The concept of collective development through Globalization was a new concept for the British public at that time. Unemployment, Privatization of the public companies and the revised tax system were the main areas were the British public differenced with Mrs. Thatcher which ultimately resulted in her ouster from the prime minister ship. Now the â€Å"Thatcherism† and its importance were recognized by the British public more than ever. Mrs. Thatcher was fortunate enough to witness all such changes in attitudes of the British public against her and her policies. Most of her economic, social and political policies were still debated. Though her policies succeeded in reducing inflation and budget expenditures the people of Britain suffered lot of indirect tax increases, social inequalities and unemployment during her services in the prime minister’s office. â€Å"Even as the rest of Europe toyed with socialism and state ownership, she set about privatizing the nationalized industries, which had been hitherto sacrosanct, no matter how inefficient. It worked. British Airways, an embarrassingly slovenly national carrier that very seldom showed a profit, was privatized and transformed into one of the worlds best and most profitable airlines†1 â€Å"When Margaret Thatcher took office, there were 3 million private shareholders; when she left, there were almost 11 and a half million. The tabloid newspapers latched onto this and joined their broadsheet cousins in publishing alongside the racing columns share market information and news. The popularity of privatization increased as each industry was floated on the stock exchange. When the gas industry was launched, the shares were oversubscribed by 500 percent†2 . â€Å"Before 1987 several key industries and public utilities had been transferred to private ownership, including th e telephone system, the ports, British Gas, Thatcher believed in reduced involvement