£10m is nothing compared with the £75bn her mandate against further EU contributions (which still protects us) to this date has saved

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“In the early 1990s, when Britain was going through its second recession in ten years”

This was due to the U.S. market slump and the Dow Jones industrial average which slumped by 22.6%, markets most exposed to the U.S. markets were hardest hit, frankly it had little to do with our policies. Other than the fact that we had renewed trade relations with U.S. and indeed the rest of the world thanks to Mrs Thatcher. We enjoyed far more benefits of this freedom (even still today) than this slump negated our economic progress.

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“based on Thatcher’s actual economic record, which was a failure”

Not according to the +23.3 growth in GDP

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“Thatcher failed on the economy, not just in terms of the huge social costs – the trashed lives, the forsaken communities, the needless destruction”

Her ‘failure’ saw the rise of the middle class, she provided the economic framework for millions to own their own homes and break free of the state cycle that had previously, instead of liberating them; had entrapt them in a hopeless rut by which you were either poor and in state hands, or monstrously rich and in cabinet or a lobbyist (or of course a union fatcat).

Communities and lives were changed radically and yes, some did take the brunt for the changes in her economic revolution. However, is it fair to blame those who put them there in the first place? In the wholly false economy? Or is it the blame of the person who tried to shake away the illusory state economy in favor of the real economy. If you want to blame anyone, blame the self-serving, corporate, fascist, national Socialist, post-war Tory and the Labour cabinets who came before her, who ensnared them in a trap to keep people dependent on them to begin with. For which both sides were equally as guilty.

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“Unusually for a politician Thatcher announced the standard by which she wanted to be judged: permanent low inflation. She couldn’t do it.”

According to official ONS figures, there was actually a slight decrease, still not as much as she would have liked.

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“American economist Milton Friedman, the high priest of monetarism, believed that inflation was caused by too much money being added to the economy. Restrict the money supply and inflation will come down, the economy will be stable and profits will increase. He said there would be a ‘natural level of unemployment’, but never mind about that.”

Milton Friedman was a highly, highly regarded economist, he was not only the head of economics at Chicago school of economics, but he won Nobel awards for his economic literature and advisory. He was completely right, even those on the left wouldn’t deny that state printed money on false value was a bad idea, so why this is even disputes, I will never know.

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“It was a simple theory but unfortunately for Thatcher it didn’t work.”

Economic liberalism is pretty simple, the economy is best in the hands of the people it affects, yes it’s simple.

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“many of the once great industrial cities and towns have not recovered to this day.”

Mechanization drove a lot of the unskilled labour market into decline with the inevitable rise of technology, again it was reactionary to the real market. As well as that, she privatised nationalised markets because in many cases they were costing the average worker, the working class money that people simply couldn’t afford. Why should young workers be forced to pay for reclining industries for the sake of jobs? It’s coercion and it’s a direct attack on our liberty.

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“Thatcher’s recession at the start of the decade set Britain’s economic growth back massively. It took until 1988 just to get back on trend with the growth of the 1970″

There is at least a 5 year latency between economic policy and its effects, at the start of 1980, the country was still very much feeling the effects of the 1970′s, the 1970′s era of national Socialist-esque 70′s left us in crippling decline, that was undeniable, we were described as the ‘sickman’ of Europe by the end of the 70′s because of our Soviet-like economic policies.

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“So how can today’s praise for Thatcher be so far removed from the facts?”

I’m seeing very warped and fragile ‘facts’ in this article thus far.

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“Thatcher’s real success doesn’t show up in the figures.”

Most of the official figures show a sharp increase in GDP, inflation overall did actually decrease substantially, among many, many other statistics.

See ONS figures

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” In the boom of 1987-8 Thatcher’s monetarist goal of low inflation was undermined by her other objective of free market reforms and deregulation, especially in the financial sector.”

Low inflation and regulation aren’t crucially coupled, though de-regulation encourages lower inflation (see John Locke’s Essay’s, particularly on Hong Kong)

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“Controls on the City of London and the banks were removed, most famously with the ‘Big Bang’ deregulation in 1986.”

This act was notoriously anti-toff, these de-regulations actually meant the city-boys of London were driven to be accountable to stake holders, as well as removing international trade-blocks on investors in the stock-markets, this lead to an incredible influx of working class British workers working in the city of London as traders and stock traders. Again, very much a positive, aspiration, meritocracy and hard work paid off, as it should.

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U.S savings and loan crisis, knock on effect

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There are so many holes in this articles arguments that just haven’t been addressed. The standards of living increased exponentially, the standards of work, the access to wealth, shares, the protection against aggressive EU economic bully boy tactics, she legacy is still to be seen today indeed. We have access to world markets as workers in a global economy that she helped to see us as a part of. Our largest sections of national infrastructure are accountable directly to the customer, our train lines have to compete for customers to stay afloat, the same for our phone companies, our bus’s, our industries. She collapsed state, monopolistic tendencies of decades before. She’s massively misunderstood and over looked, for the work she did, she has been grossly demonised for incredible work

And she invented the Mr Whippy