Latest news with #MargaretThatcher
Yahoo
8 hours ago
- Business
- Yahoo
Labour has wiped out Thatcher's legacy
The Thatcherite dream finally died this month. Margaret Thatcher's 11 years in office had a long afterlife, perhaps longer than that of any prime minister other than Clement Attlee. She reimagined both her own party and indeed that of her Labour opponents. There would have been no Blairite interregnum in the socialist party's relentless 'egalitarianism before all else' philosophy without her. Even more significantly, Mrs Thatcher transformed British society – at least for a while. But 35 years after leaving Downing Street for the last time, Thatcherism has finally expired. The Iron Lady's legacy has not managed to survive the vicissitudes of Keir Starmer's Government. With the renationalisation of South Western Railway as the next step towards the full state ownership of Britain's railways, that moment has come to an end. Rail privatisation, only enacted in 1993 when John Major was prime minister and implemented amid the last gasps of 18 years of Tory rule, was a late flowering of the valiant attempt to roll back the frontiers of the state. Its implementation was bodged and the infrastructure soon fell back into public ownership in 2002. The privatisation programme started slowly in Mrs Thatcher's first term with various sell-offs, most notably the flotation of 51pc of British Aerospace in 1981. It really took off and grabbed the public imagination with the float of British Telecom in 1984. Millions of people on ordinary incomes caught the bug for investing in shares and these sales were hugely oversubscribed. Privatisation was not just an attempt to inject dynamism into the British economy, although it undoubtedly achieved this. Thatcherism has been denounced by the Left as an attempt to transform the very ethos of the UK, to dismantle the collectivist assumptions that had taken hold since the Second World War. They pillory Mrs Thatcher for declaring that there is no such thing as society (she never said it) and that we owe our fellow citizens nothing in terms of social solidarity (she did not believe that either). The Left are wrong in this caricature, but they are right to say that Thatcherism was an attempt to fundamentally change our country's character. And privatisation – alongside council house sales – was a cornerstone of this mission. At the 1985 Tory party conference Mrs Thatcher declared that she hoped a day would come 'where owning shares is as common as having a car'. She saw that by spreading the benefits of ownership, both of people's homes but also of the country's assets, Britain could become an entrepreneurial society; a country where bosses and workers saw themselves as in conflict could become one where all strived for affluence. In short, Mrs Thatcher hoped Britain would have an American future, where the accumulation of wealth was seen as a virtue, not a sin. She believed that once people have a proprietorial stake in the country – be that via owning their council house or possessing a few hundred shares in BP or British Steel – old class antagonisms would over time wither away. The Left saw these privatisations as a bribe; just as council house sales were discounted, shares were deliberately underpriced so the public could make a quick buck. And they are right in this analysis, but it was not an electoral bung but rather a strategy to change public attitudes. Perhaps the apotheosis of this was the 1986 'Tell Sid' advertising campaign for the sale of British Gas. Its message was unapologetic: these flotations are for everyone. And it worked, those owning shares directly rose from around three million people in 1979, or around 7pc of adults, to over 12 million, or nearly a quarter of adults, when Mrs Thatcher left office. This was further augmented by the big demutualisations of the late 1990s – Abbey National in 1989, Northern Rock in 1997 and Standard Life in 2006. This trend has reversed. The proportion of UK-listed shares directly owned by UK-resident individuals was 10.8pc at the end of 2022, down from 12pc just two years earlier. Today 57.7pc of UK shares by value are owned by overseas investors, a record high. If you go back to the 1960s, those figures are reversed with 54pc of shares owned by British individuals. This had fallen to 28pc by 1981. Mrs Thatcher did not reverse the overall trend in a declining percentage of the stock market being directly owned by individuals, but did vastly increase the number of people owning those shares. The long-term decline is not an entirely negative one. The days when the well-off would buy, say, £10,000 of Marks & Spencer shares and then hold them for 40 years are gone. And that is not a bad thing; pooled investment funds are clearly a far wiser and less risky route for investment for most people than simply buying individual blue chip stocks and holding them for the long term. Additionally, it is inevitable as so many of the privatised and demutualised companies have been taken over, bought by private equity or are no longer with us for other reasons. But more broadly, the agenda of popular capitalism has been reversed. The decline has been long and gradual, but has been vastly accelerated by Starmer's Government. One of its early actions in office was to hugely cut the discount that council tenants receive on buying their home. In London the maximum discount was reduced in November from £136,400 to £16,000. Mrs Thatcher's 1980s dream of making Britain more laissez-faire and more American in attitude is now sadly dead. Labour has deliberately extinguished it. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
20 hours ago
- Business
- Telegraph
Labour has wiped out Thatcher's legacy
The Thatcherite dream finally died this month. Margaret Thatcher's 11 years in office had a long afterlife, perhaps longer than that of any prime minister other than Clement Attlee. She reimagined both her own party and indeed that of her Labour opponents. There would have been no Blairite interregnum in the socialist party's relentless 'egalitarianism before all else' philosophy without her. Even more significantly, Mrs Thatcher transformed British society – at least for a while. But 35 years after leaving Downing Street for the last time, Thatcherism has finally expired. The Iron Lady's legacy has not managed to survive the vicissitudes of Keir Starmer's Government. With the renationalisation of South Western Railway as the next step towards the full state ownership of Britain's railways, that moment has come to an end. Rail privatisation, only enacted in 1993 when John Major was prime minister and implemented amid the last gasps of 18 years of Tory rule, was a late flowering of the valiant attempt to roll back the frontiers of the state. Its implementation was bodged and the infrastructure soon fell back into public ownership in 2002. The privatisation programme started slowly in Mrs Thatcher's first term with various sell-offs, most notably the flotation of 51pc of British Aerospace in 1981. It really took off and grabbed the public imagination with the float of British Telecom in 1984. Millions of people on ordinary incomes caught the bug for investing in shares and these sales were hugely oversubscribed. Privatisation was not just an attempt to inject dynamism into the British economy, although it undoubtedly achieved this. Thatcherism has been denounced by the Left as an attempt to transform the very ethos of the UK, to dismantle the collectivist assumptions that had taken hold since the Second World War. They pillory Mrs Thatcher for declaring that there is no such thing as society (she never said it) and that we owe our fellow citizens nothing in terms of social solidarity (she did not believe that either). The Left are wrong in this caricature, but they are right to say that Thatcherism was an attempt to fundamentally change our country's character. And privatisation – alongside council house sales – was a cornerstone of this mission. At the 1985 Tory party conference Mrs Thatcher declared that she hoped a day would come 'where owning shares is as common as having a car'. She saw that by spreading the benefits of ownership, both of people's homes but also of the country's assets, Britain could become an entrepreneurial society; a country where bosses and workers saw themselves as in conflict could become one where all strived for affluence. In short, Mrs Thatcher hoped Britain would have an American future, where the accumulation of wealth was seen as a virtue, not a sin. She believed that once people have a proprietorial stake in the country – be that via owning their council house or possessing a few hundred shares in BP or British Steel – old class antagonisms would over time wither away. The Left saw these privatisations as a bribe; just as council house sales were discounted, shares were deliberately underpriced so the public could make a quick buck. And they are right in this analysis, but it was not an electoral bung but rather a strategy to change public attitudes. Perhaps the apotheosis of this campaign was the 1986 'Tell Sid' advertising campaign for the sale of British Gas. Its message was unapologetic: these flotations are for everyone. And it worked, those owning shares directly rose from around three million people in 1979, or around 7pc of adults, to over 12 million, or nearly a quarter of adults, when Mrs Thatcher left office. This was further augmented by the big demutualisations of the late 1990s – Abbey National in 1989, Northern Rock in 1997 and Standard Life in 2006. This trend has reversed. The proportion of UK-listed shares directly owned by UK-resident individuals was 10.8pc at the end of 2022, down from 12pc just two years earlier. Today 57.7pc of UK shares by value are owned by overseas investors, a record high. If you go back to the 1960s, those figures are reversed with 54pc of shares owned by British individuals. This had fallen to 28pc by 1981. Mrs Thatcher did not reverse the overall trend in a declining percentage of the stock market being directly owned by individuals, but did vastly increase the number of people owning those shares. The long-term decline is not an entirely negative one. The days when the well-off would buy, say, £10,000 of Marks & Spencer shares and then hold them for 40 years are gone. And that is not a bad thing; pooled investment funds are clearly a far wiser and less risky route for investment for most people than simply buying individual blue chip stocks and holding them for the long term. Additionally, it is inevitable as so many of the privatised and demutualised companies have been taken over, bought by private equity or are no longer with us for other reasons. But more broadly, the agenda of popular capitalism has been reversed. The decline has been long and gradual, but has been vastly accelerated by Starmer's Government. One of its early actions in office was to hugely cut the discount that council tenants receive on buying their home. In London the maximum discount was reduced in November from £136,400 to £16,000. Mrs Thatcher's 1980s dream of making Britain more laissez-faire and more American in attitude is now sadly dead. Labour has deliberately extinguished it.
Scottish Sun
2 days ago
- Scottish Sun
I'm grew up in one of the UK's most ‘boring' towns – it's anything but with Netflix filming and beautiful castles
It is even home to one of the UK's oldest hotels TOWN LIFE I'm grew up in one of the UK's most 'boring' towns – it's anything but with Netflix filming and beautiful castles Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) WHEN I was growing up in Grantham, it wasn't uncommon to hear the word 'boring' thrown around - and not just because I was a sullen teenager, In fact, the south-west Lincolnshire town where I whiled away my childhood had been branded dull on a number of occasions. Sign up for Scottish Sun newsletter Sign up 8 I grew up in Grantham and it's anything but boring 8 The town is known for being the home of Margaret Thatcher - when it was first named a dull town by Radio 1 Credit: Alamy It was dubbed the 'most boring town in Britain' in a 1980 Radio One survey, when its most famous former resident, Margaret Thatcher, was prime minister. It still makes me chuckle that when Grantham received its 'Golden Yawn Award' almost half a century ago, one local suggested 'the only thing that ever came out of [it] was the A1' - and it 's a sentiment of tediousness that 'G-Town' residents have long internalised. That the town is still shorthand for 'monotony' is an unfortunate fact raised again by a new Daily Telegraph round-up that has made headlines in the past few weeks. Grantham sits amongst Stevenage, Surbiton and Swindon in the list of 'Britain's most boring towns'. However, now in my 30s, I can't help but disagree that, from things to do to sites to see, my hometown isn't so uninteresting after all. If you're into history, then Grantham has centuries of it - with sites arguably as impressive as nearby Stamford or Lincoln if you're after a weekend getaway in the area. There's the blue plaque to spy on the side of a shop on the town's North Parade where Thatcher was born in 1925 - which also happens to be a chiropractic clinic and natural therapy centre, called Living Health, if you fancy a massage too. There's likewise the Angel and Royal hotel - aged 821 years - which is believed to be one of the oldest hotels in the world, and has hosted no fewer than seven kings and queens. Even if you don't stay in one of its 31 bedrooms, you still pop in to the The Kings Room restaurant, as well as The Angel Bar - which serves cocktails and tapas. Just outside town, in the village of Woolsthorpe-by-Colsterworth, is the National Trust property Woolsthorpe Manor - the former home of Sir Isaac Newton. Grantham - underrated town of the Midlands It was from a tree at the premises that he famously saw the apple drop, leading to the discovery of gravity in 1666. Grantham has certainly had its brush with celebrity over the years, and usually as a filming location for iconic films and Netflix series. Belton House, a grand National Trust property on the edge of town - and a must-see in its own right - was famously enlisted for the 1995 adaptation of Pride and Prejudice starring Colin Firth. More recently, the 17th-century mansion was used for the Bridgerton spin-off Queen Charlotte - in which it doubles up as the interior for Kew Palace and the exterior for Buckingham House. Another fancy residence close by that is well worth a visit, Belvoir Castle was used to film The Da Vinci Code - with Tom Hanks, Audrey Tautou and Ian McKellen spotted on set. 8 Belton House is a popular filming location Credit: Alamy 8 Bridgerton spin-off Queen Charlotte was filmed there Credit: LIAM DANIEL/NETFLIX 8 The BBC's Pride & Prejudice also used the grounds as filming location As well as A-list royalty, plenty of real royalty have also passed through - including King Charles, who stayed over at Belton House during his training at RAF Cranwell in 1971. Currently, the most famous local residents are arguably Rebekah Vardy and her husband, Leicester City player Jamie, who live in a 12-bedroom mansion just outside of town. If you like a good catch-up over a cappuccino, things have come a long way since I was a kid when the best place for a caffeine hit in town was Costa. Westgate Bakery is just off the Market Place, which hosts a market every Saturday selling all manner of lovely local produce, from honey to veg. The 14th-century Grantham House, yet another National Trust property, is currently the talk of the town since opening a new cafe within its five acres of walled gardens in April. Other local favourites for a cuppa include Kitchen and Coffee and the café at Belton Garden Centre. 8 Belvoir Castle was used to film The Da Vinci Code Credit: Alamy 8 The Angel and Royal is one of the UK's oldest hotels Credit: Alamy The aforementioned Belvoir Castle's Retail Village is also great spot to spend an afternoon, and you can also pick up some nice bits from the farm shop too. Fancy something stronger? The Blue Pig, a 16th-century watering hole, is perfect for a pint, while The Tap & Tonic is unrivalled for cocktails. If you're after a way to blow off some steam - and perhaps have little ones in tow - then Grantham actually has plenty of things to do. The Grantham Meres Leisure Centre boasts a semi-Olympic-sized swimming pool, along with three leisure pools and its very own big windy slide. Feeling competitive? Grantham Bowl has 12 lanes and an American-style diner for refreshments, while you can go go-karting at Ancaster Leisure which has one of the biggest tracks in the region. In fact, for kids, you also can't go wrong with a trip to Belton House's adventure playground, which is the National Trust's largest in the country. For adults who fancy a bit of relaxation, then the country hotel Belton Woods is home to a popular spa and golf course. When I was growing up the cinema had just two screens and was a bit tired - however the shiny new five-screen Savoy Cinema multiplex was built on the same site and opened in 2019. One of my favourite free activities? A rural hike up to Belmont Tower - just a ten-minute drive outside town - from which you can see for miles on a clear day. So with the historic hotels, famous castles and new attractions - Grantham is anything but boring.
The Sun
2 days ago
- Entertainment
- The Sun
I'm grew up in one of the UK's most ‘boring' towns – it's anything but with Netflix filming and beautiful castles
WHEN I was growing up in Grantham, it wasn't uncommon to hear the word 'boring' thrown around - and not just because I was a sullen teenager, In fact, the south-west Lincolnshire town where I whiled away my childhood had been branded dull on a number of occasions. 8 8 It was dubbed the 'most boring town in Britain' in a 1980 Radio One survey, when its most famous former resident, Margaret Thatcher, was prime minister. It still makes me chuckle that when Grantham received its 'Golden Yawn Award' almost half a century ago, one local suggested 'the only thing that ever came out of [it] was the A1' - and it 's a sentiment of tediousness that 'G-Town' residents have long internalised. That the town is still shorthand for 'monotony' is an unfortunate fact raised again by a new Daily Telegraph round-up that has made headlines in the past few weeks. Grantham sits amongst Stevenage, Surbiton and Swindon in the list of 'Britain's most boring towns'. However, now in my 30s, I can't help but disagree that, from things to do to sites to see, my hometown isn't so uninteresting after all. If you're into history, then Grantham has centuries of it - with sites arguably as impressive as nearby Stamford or Lincoln if you're after a weekend getaway in the area. There's the blue plaque to spy on the side of a shop on the town's North Parade where Thatcher was born in 1925 - which also happens to be a chiropractic clinic and natural therapy centre, called Living Health, if you fancy a massage too. There's likewise the Angel and Royal hotel - aged 821 years - which is believed to be one of the oldest hotels in the world, and has hosted no fewer than seven kings and queens. Even if you don't stay in one of its 31 bedrooms, you still pop in to the The Kings Room restaurant, as well as The Angel Bar - which serves cocktails and tapas. Just outside town, in the village of Woolsthorpe-by-Colsterworth, is the National Trust property Woolsthorpe Manor - the former home of Sir Isaac Newton. Grantham - underrated town of the Midlands It was from a tree at the premises that he famously saw the apple drop, leading to the discovery of gravity in 1666. Grantham has certainly had its brush with celebrity over the years, and usually as a filming location for iconic films and Netflix series. Belton House, a grand National Trust property on the edge of town - and a must-see in its own right - was famously enlisted for the 1995 adaptation of Pride and Prejudice starring Colin Firth. More recently, the 17th-century mansion was used for the Bridgerton spin-off Queen Charlotte - in which it doubles up as the interior for Kew Palace and the exterior for Buckingham House. Another fancy residence close by that is well worth a visit, Belvoir Castle was used to film The Da Vinci Code - with Tom Hanks, Audrey Tautou and Ian McKellen spotted on set. 8 8 8 As well as A-list royalty, plenty of real royalty have also passed through - including King Charles, who stayed over at Belton House during his training at RAF Cranwell in 1971. Currently, the most famous local residents are arguably Rebekah Vardy and her husband, Leicester City player Jamie, who live in a 12-bedroom mansion just outside of town. If you like a good catch-up over a cappuccino, things have come a long way since I was a kid when the best place for a caffeine hit in town was Costa. Westgate Bakery is just off the Market Place, which hosts a market every Saturday selling all manner of lovely local produce, from honey to veg. The 14th-century Grantham House, yet another National Trust property, is currently the talk of the town since opening a new cafe within its five acres of walled gardens in April. Other local favourites for a cuppa include Kitchen and Coffee and the café at Belton Garden Centre. 8 8 The aforementioned Belvoir Castle's Retail Village is also great spot to spend an afternoon, and you can also pick up some nice bits from the farm shop too. Fancy something stronger? The Blue Pig, a 16th-century watering hole, is perfect for a pint, while The Tap & Tonic is unrivalled for cocktails. If you're after a way to blow off some steam - and perhaps have little ones in tow - then Grantham actually has plenty of things to do. The Grantham Meres Leisure Centre boasts a semi-Olympic-sized swimming pool, along with three leisure pools and its very own big windy slide. Feeling competitive? Grantham Bowl has 12 lanes and an American-style diner for refreshments, while you can go go-karting at Ancaster Leisure which has one of the biggest tracks in the region. In fact, for kids, you also can't go wrong with a trip to Belton House's adventure playground, which is the National Trust's largest in the country. For adults who fancy a bit of relaxation, then the country hotel Belton Woods is home to a popular spa and golf course. When I was growing up the cinema had just two screens and was a bit tired - however the shiny new five-screen Savoy Cinema multiplex was built on the same site and opened in 2019. One of my favourite free activities? A rural hike up to Belmont Tower - just a ten-minute drive outside town - from which you can see for miles on a clear day. So with the historic hotels, famous castles and new attractions - Grantham is anything but boring. 8
The Irish Sun
2 days ago
- The Irish Sun
I'm grew up in one of the UK's most ‘boring' towns – it's anything but with Netflix filming and beautiful castles
WHEN I was growing up in Grantham, it wasn't uncommon to hear the word 'boring' thrown around - and not just because I was a sullen teenager, In fact, the south-west Lincolnshire town where I whiled away my childhood had been branded dull on a number of occasions. 8 I grew up in Grantham and it's anything but boring 8 The town is known for being the home of Margaret Thatcher - when it was first named a dull town by Radio 1 Credit: Alamy It was dubbed the 'most boring town in Britain' in a 1980 Radio One survey, when its most famous former resident, Margaret Thatcher, was prime minister. It still makes me chuckle that when That the town is still shorthand for 'monotony' is an unfortunate fact raised again by a new Daily Telegraph round-up that has made headlines in the past few weeks. Grantham sits amongst Read more on UK towns However, now in my 30s, I can't help but disagree that, from things to do to sites to see, my hometown isn't so uninteresting after all. If you're into history , then Grantham has centuries of it - with sites arguably as impressive as nearby Stamford or There's the blue plaque to spy on the side of a shop on the town's North Parade where Thatcher was born in 1925 - which also happens to be a chiropractic clinic and natural therapy centre, called Living Health , if you fancy a massage too. There's likewise the Angel and Royal hotel - aged 821 years - which is believed to be one of the oldest hotels in the world, and has hosted no fewer than seven kings and queens. Most read in News Travel Even if you don't stay in one of its 31 bedrooms, you still pop in to the The Kings Room restaurant, as well as The Angel Bar - which serves cocktails and tapas. Just outside town, in the village of Woolsthorpe-by-Colsterworth, is the National Trust property Woolsthorpe Manor - the former home of Sir Isaac Newton. Grantham - underrated town of the Midlands It was from a tree at the premises that he famously saw the apple drop, leading to the discovery of Grantham has certainly had its brush with celebrity over the years, and usually as a filming location for iconic films and Netflix series. grand National Trust property on the edge of town - and a must-see in its own right - was famously enlisted for the 1995 adaptation of Pride and Prejudice starring More recently, the 17th-century mansion was used for the Bridgerton spin-off Queen Charlotte - in which it doubles up as the interior for Kew Palace and the exterior for Buckingham House. Another fancy residence close by that is well worth a visit, Belvoir Castle was used to film The Da Vinci Code - with Tom Hanks, Audrey Tautou and Ian McKellen spotted on set. 8 Belton House is a popular filming location Credit: Alamy 8 Bridgerton spin-off Queen Charlotte was filmed there Credit: LIAM DANIEL/NETFLIX 8 The BBC's Pride & Prejudice also used the grounds as filming location As well as A-list royalty, plenty of real royalty have also passed through - including King Charles, who stayed over at Belton House during his training at RAF Cranwell in 1971. Currently, the most famous local residents are arguably Rebekah Vardy and her husband, If you like a good catch-up over a cappuccino, things have come a long way since I was a kid when the best place for a caffeine hit in town was Costa. Westgate Bakery is just off the Market Place, which hosts a market every Saturday selling all manner of lovely local produce, from honey to veg. The 14th-century Grantham House, yet another National Trust property, is currently the talk of the town since opening a new cafe within its five acres of walled gardens in April. Other local favourites for a cuppa include Kitchen and Coffee and the café at Belton Garden Centre. 8 Belvoir Castle was used to film The Da Vinci Code Credit: Alamy 8 The Angel and Royal is one of the UK's oldest hotels Credit: Alamy The aforementioned Belvoir Castle's Retail Village is also great spot to spend an afternoon, and you can also pick up some nice bits from the farm shop too. Fancy something stronger? The Blue Pig, a 16th-century watering hole, is perfect for a pint, while The Tap & Tonic is unrivalled for cocktails. If you're after a way to blow off some steam - and perhaps have little ones in tow - then Grantham actually has plenty of things to do. The Grantham Meres Leisure Centre boasts a semi-Olympic-sized swimming pool, along with three leisure pools and its very own big windy slide. Feeling competitive? Grantham Bowl has 12 lanes and an American-style diner for refreshments, while you can go go-karting at Ancaster Leisure which has one of the biggest tracks in the region. In fact, for kids, you also can't go wrong with a trip to Belton House's adventure playground, which is the National Trust's largest in the country. For adults who fancy a bit of relaxation, then the country hotel Belton Woods is home to a popular spa and golf course. When I was growing up the cinema had just two screens and was a bit tired - however the shiny new five-screen Savoy Cinema multiplex was built on the same site and opened in 2019. One of my favourite free activities? A rural hike up to Belmont Tower - just a ten-minute drive outside town - from which you can see for miles on a clear day. So with the historic hotels, famous castles and new attractions - Grantham is anything but boring. 8 It definitely isn't a boring town - I can vouch for that Credit: Getty
