The year-long conflict between the government and the National Union of Mineworkers (NUM) was a defining moment. Thatcher’s victory effectively broke the power of the unions in the UK and paved the way for more flexible labor markets. 4. The Role of John Major
It led to increased wealth inequality, the decline of industrial heartlands (particularly in the North and Scotland), and the erosion of social safety nets. The Thatcher Revolution: Margaret Thatcher, Joh...
To combat high inflation, the government restricted the money supply and raised interest rates, prioritizing price stability over full employment. The year-long conflict between the government and the
The "Big Bang" of 1986 deregulated the financial markets, transforming the City of London into a global financial powerhouse. 2. Privatization and "Popular Capitalism" The Thatcher Revolution: Margaret Thatcher, Joh...