Margaret Thatcher was Prime Minister of the United Kingdom from 4 May 1979 to 28 November 1990, during which time she led a Conservative majority government. She was the first woman to hold that office. During her premiership, Thatcher moved to liberalise the British economy through deregulation, privatisation, and the promotion of entrepreneurialism.
This article details the second Thatcher ministry which she led at the invitation of Queen Elizabeth II from 1983 to 1987.
The Conservative government was re-elected in June 1983 with a majority of 144 seats, with Labour in opposition having a mere 209 seats after its worst postwar electoral performance, seeing off a close challenge from the SDP–Liberal Alliance who came close to them on votes though not with seats.
With inflation firmly under control and union reforms contributing towards the lowest level of strikes since the early 1950s, the Conservatives were now faced with the challenge of reducing unemployment from a record high of 3,200,000.
March 1984 saw the beginning of a miners' strike which would last for 12 months and divide the country as Mrs Thatcher announced extensive pit closures which would ultimately cost thousands of miners their jobs as well, while the remaining pits were set to be privatised in the proposed sell-off of the National Coal Board. Privatisation of utilities and heavy industry was becoming a key symbol of Thatcherism, with the likes of British Telecom also transferring from public to private ownership.
Michael Foot had stepped down as Labour leader following the 1983 general election. The man elected by Labour with the task of getting them back into government was Neil Kinnock. He proved himself as a fierce rival to Thatcher, and more than once during the 1983–87 parliament, the opinion polls showed Labour (and very occasionally the Alliance) in the lead, although a huge swing was required at a general election if the Conservative government was to be ousted.
The challenge from the SDP–Liberal Alliance was becoming weaker, despite their brief lead of the opinion polls during 1985.
However, economic growth following recession had been re-established by the beginning of this parliament and by 1987 the economy was well on the road to recovery. However, although unemployment which had peaked at nearly 3,300,000 during 1984 remained above 3,000,000 by the turn of 1987, with the opinion polls all showing a Tory lead, it was anticipated that Thatcher would call the next general election earlier than the deadline of June 1988.
A general election was called for 11 June 1987, and the Conservatives triumphed for the third election in succession. Labour, on the other hand, achieved a better election result than it had the previous time (and also managed to reduce the Conservative majority), with more than 30% of the vote, while the SDP–Liberal Alliance floundered and was soon disbanded as the Social Democratic Party and Liberal Party merged to form the Social and Liberal Democrats (who soon became the Liberal Democrats).
Members of the Cabinet are in bold face.