Wednesday, June 07, 2006

THATCHER’S UNION WARS

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Only lady Prime Minister of Britain, Margaret Thatcher, formed a government for the first time during 1979 and over the period of 12 years, her focus was to bring in privatization, which she did by decreasing tax rates and increasing interest rates. But she acquired the Iron Lady reputation after the unflinching manner in which she stood up to the powerful trade unions of UK in a grand showdown. Though a series of strikes crippled Britain during the early 1980s, it was the trade unions that blinked first. Ever since, they have never managed to regain the glory, power and prestige they once boasted of. All thanks to the Iron Lady Maggie.

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Source IIPM-Editorial,2006