0h 9min, nov 28, 1990 y - Impact of Thatcher's economics

Description:

Privatisation:
-One of Thatcher's most controversial policies
-It released large swathes of industry from government control which was viewed as inefficient and inappropriate by Thatcher's administration
-Thatcher and her supporters talked of 'rolling back the frontiers' of British welfare state
-In 1987, 14 major British companies (including British Gas, British Telecom and British Aerospace) were sold to the private sector at a large profit
-This was large scale and industrial shareholders purchased shares in companies, and the number of shareholders increased from 3m to 11m
-This brought in large revenue for Thatcher's government, around £4,700 million between 1987 to 1989

Social mobility:
-Wanted to allow people from lower social classes to rise the economic ladder
-While some benefitted, it wasn't something that more traditional Conservatives were supportive of
-They aimed to dissolve and reduce class differences but this didn't necessarily happen in practice
-They promoted a capitalist streak, pushing for them to make money and become more socially mobile

'Yuppies':
-Young people who made large amounts of money from financial markets and new businesses
-Seemed a world away from poverty in declining traditional industries found in coal and steel towns
-New 'yuppie' culture seemed to symbolise social separation between 'haves' and 'have-notes' in the 80s.
-Mainly in the South, but in the North there was lots of squating

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