Difference Between Thatcherism And New Labour

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Thatcherism and New Labour
The two most significant trends in UK politics in recent decades have been Thatcherism and New Labour. How does New Labour differ from Thatcherism, if at all? Or has New Labour to a large degree simply accepted the positions and policies of Thatcherism?

The term Thatcherism is centered around the reform programme of the Conservative party led by Margaret Thatcher in the 1980s. The heart piece of the programme was the economic reform programme, that favored freedom instead of social insurance, by emphasizing deregulation in the private sector, privatisation of companies and tax reductions and a ‘give to get’ scheme to curb unemployment.

Especially the privatization of companies played a huge role in minimizing the budgetary deficits. Companies like British Telecom, BP and British Gas were sold for prices as high as £7 billion.

In terms of foreign relations, the government under Thatcher supported and was supported by the US government, which was led by Reagan. Reagan pursued politics, that were much alike those by the UK government and thus a cooperation felt naturally. The cooperation saw US support in the Falklands war as a favor, which was returned by the UK government with granting of the placement of US cruise missiles on UK soil.

Whether voters liked Thatcher 's policies or not, there seemed to be no party, that could convince the people of a better alternative. It needed the introduction of ‘New Labour’ and its political leader Tony

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