Word: thatcherism
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After a hard winter, Thatcher finds a little sunshine...
...daffodils were abloom in London's Hyde Park, and over at Downing Street, Prime Minister Margaret Thatcher put on her brightest smile for the tourists. It was, after all, nearly the end of one of Britain's bitterest winters, and she had reason to think that sunnier days might be ahead for her government. Chancellor of the Exchequer Sir Geoffrey Howe had just presented the House of Commons with a new budget. It shrewdly offered a little something for everyone, effectively assuaging dissidents within the Tories' own ranks and taking the steam out of expected Labor opposition...
...most unpopular in 30 years, so Howe had only to be fairly moderate and evenhanded to come out ahead. In fact, his modest proposal for a $2.35 billion expansion of the economy managed to win approval from business leaders and even backbench conservatives who have been critical of Thatcher's harsh economic policies. "This will be a budget for industry, and so a budget for jobs," Howe declared in his address to the Commons. "But it will be a budget for people as well...
...billion cubic meters of natural gas to Western Europe, will only increase European dependence on Moscow. What is worse, say U.S. officials, the deal will ultimately provide the Soviets with hard currency to continue their arms buildup. Even the British lack enthusiasm for economic sanctions, though Prime Minister Margaret Thatcher's government a week ago announced restrictions on Soviet and Polish diplomats, reduced landing rights for the Polish national airline, LOT, and imposed tougher standards for technology transfer to East bloc countries. As one senior British diplomat put it, "We don't think sanctions work. We have tried...
...Freddie, who was knighted by Queen Elizabeth in June 1978, tried in vain to get help. Last Sir Freddie Thursday he phoned Iain Sproat, Britain's Under-Secretary for Trade, to warn that without government aid, his airline would crash. Later that day Prime Minister Margaret Thatcher discussed Laker's plight with several Cabinet members, but chose not to bail out the carrier. Early next morning, at a tense meeting with his board of directors at Gatwick, Laker called it quits...