Saturday, December 31, 2011

Margaret Thatcher's record as prime minister

The left is rewriting history of Margaret Thatcher's twelve years as Prime Minister of UK. Apparently the new movie about her continues this effort. (I will see it anyway.) Patriot Statesman
The Labour Party in Britain has for the last decade spread falsehoods about the period during which Margaret Thatcher was Prime Minister, riding the 1990 recession into four terms of parliamentary leadership. Labour tirelessly repeats myths about Thatcher’s impressive accomplishments. And now Hollywood screenwriters, intellectually lazy and most likely ideologically-driven, have assigned themselves the task of institutionalizing these myths via the vehicle of cinema. Oscar-winner Meryl Streep has lent her reputation to this demagogic enterprise.
Let's remember what the Iron Lady did. American Thinker
Her first accomplishment was challenging the then-regnant policy of accommodation with -- really, appeasement of -- the growth of the Soviet Empire. Even before Reagan was running for president, she held that NATO should increase its military strength to oppose Soviet expansion and roll back the USSR's control of Eastern Europe. 
Thatcher also instituted far-reaching free-market economic reforms, starting with facing down and defeating the communistic mine-workers' union. Here she was aided by the British classical economics think-tank known as the Institute of Economic Affairs, which provided her with much intellectual ammunition for her work. 
She brought the top income tax rates down from 98% to 40% during her time in office. She brought the national debt down and privatized key industries. In truth, she ended British socialism. She brought unions under control, with time lost to strikes down by an astounding 94% during her time in office, from 29.5 million working days lost to 1.9 million. 
... her policies increased real employment, decreased inflation, and made the poor and disabled better off. He also explains why her policies were not responsible for the problems experienced by the coal industry and those caused by the Exchange Rate Mechanism.
See the first link above for more.

The photo: from Telegraph UK.