How much did Thatcher cut taxes?
The Government of Margaret Thatcher, who favoured indirect taxation, reduced personal income tax rates during the 1980s. In the first budget after her election victory in 1979, the top rate was reduced from 83% to 60% and the basic rate from 33% to 30%.
What was Margaret Thatcher known for?
She was the longest-serving British prime minister of the 20th century and the first woman to hold that office. A Soviet journalist dubbed her the “Iron Lady”, a nickname that became associated with her uncompromising politics and leadership style.
Why was the poll tax introduced?
The advent of the poll tax was due to an effort to alter the way the tax system was used to fund local government in the UK. The system in place until this time was called “rates” and had been in place in some form from the beginning of the 17th century.
What was Thatcherism policy quizlet?
In an attempt to lower inflation and unemployment, she restricted the influence of labor unions and reduced the amount of money invested in Britain’s social welfare system. This group of policies, which became known as Thatcherism, had a mixed result.
What did Thatcher deregulate?
BREAKING DOWN Big Bang The electronic trading system helped improve London’s turnover rate because orders were now accepted by telephone and computer. In 1983, Prime Minister Margaret Thatcher and her Conservative government decided to go through with the process of deregulating the city of London along with its banks.
Did Thatcher support the NHS?
Thatcher government reforms There was one major exception: the National Health Service, which was widely popular and had wide support inside the Conservative Party. In 1988 the then Prime Minister, Margaret Thatcher, announced a review of the NHS.
Who became the British prime minister in 1979 quizlet?
Who became the British prime minister in 1979? Margaret Thatcher became the country’s first female prime minister in 1979.
Who deregulated banking?
President Clinton’s tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years.
What did the Thatcher government do for the economy?
The Thatcher government also sold off 1.5 million publicly owned housing units to their tenants. All of this added money to the government’s treasury. And the Thatcher government encouraged growth of the financial services industry that some critics were to describe as “casino capitalism.”.
Where can I find the Thatcher cabinet papers?
Instead it triggered civil disobedience and riots and a rebellion in the Conservative Party. Cabinet papers for 1989 and 1990, released today at the National Archives in Kew, reveal the reaction to the crisis at the heart of government.
When was Thatcher’s note for the record made?
On 25 March (six days before an enormous demonstration against the poll tax in London which developed into serious rioting) the files contain a “note for the record” of a phone conversation between the two.
Who was the winner of the Thatcher leadership contest?
The practical difficulties and the political pressures were too great and Mrs Thatcher’s career was foundering. In November Michael Heseltine, an outspoken critic of the poll tax, triggered a leadership contest from which John Major emerged the winner.