fall of thatcher and her legacy Flashcards
stock market issues
1987 crashed following the deregulation of the City in 1986
lawson (chancellor) policies
especially 1988 budget
let to rapid expansion of the economy - ‘lawson boom’
resulted in balance of payments issue
inflation
1990 - 10.9%
higher than 1980
problem for a government that had set its key economic objective as low inflation
loss of eastbourne
tory ultra safe seat Eastbourne was lost to the Liberals in 1990 by-election
poll tax
made conservatives V unpopular
thatcher advised to drop it, but did not
poll tax riot in March 1990
conservative divisions
over Europe, economic policies and thatcher’s leadership style
labour party at the time
making a recovery under Neil Kinnock and John Smith
role of geoffrey howe
always loyal to thatcher
been in cabinet since 1979
always sidelined by thatcher
was not told about joining the ERM
resigned in 1990 over europe disputes
resignation speech designed to damage thatcher
indirectly called for her to be removed from office
micheal hestletine
europhile
very charasmatic
very popular - thatcher had to bring into government
unofficial minister for Liverpool - lots of effort into improving the city
nigel lawson
chancellor
very arrogant
tension between thatcher and lawson over Europe
thatcher appointed her own economic advisor
westland affair
1986
hestletine and thatcher public dispute
over westland helicopters - UK last helicopter manufacturer
hestletine - europe integration
thatcher - american integration
suspicion thatcher lied to HOC
leadership contest
hestletine challenged thatcher 1990
thatcher fail to win 1st ballot
thatcher persuaded to withdraw from 2nd round
announced her resignation 22nd nov
thatcher legacy
affected development of labour party - new labour
housing boom in south
economic policies consequence took place
