What is Thatcherism?

The Conservatives came to power under Thatcher’s leadership in 1979, and initiated a series of reforms which became known as ‘Thatcherism’ (also referred to as the ‘New Right’). This was a reaction against what was seen as ‘inefficient’ state intervention and the ‘motivation-sapping’ welfare system. This time was characterised by privatisation (private companies running previously state-owned industry and services, for example utility companies and the railways)