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There are plenty of others who grew up in Thatcher's Britain I understand the negative sentiment of many Britons towards her. My main beef is the squandering o
by richardjordan 14y ago
There are plenty of others who grew up in Thatcher's Britain I understand the negative sentiment of many Britons towards her.
My main beef is the squandering of Britain's oil. We had a one time bounty of oil in the UK and to deliver temporary tax cuts at the high end of the tax bracket her government sold off as much oil as possible as fast as possible at low low rates (<$10 per barrel) - a policy also aimed at financially attacking the Soviet Union. However as the UK slipped from the fourth largest exporter in the world to a net importer of oil, oil which is ten times as expensive, the UK has serious problems. The tax cuts are long gone, and I'm pretty sure nobody is paying for the UK's oil as a thank you for helping bankrupt the USSR.
I guess the point is while the social effects of her policies are the main focus of criticism for many, her economic prowess was based on a giveaway if a one-time resource wil long term negative strategic consequences for the country.