Remembering Thatcher

 Image by Chris Beckett

In the wake of Margaret Thatcher’s death, euphoria appears to be sweeping over the nation, with calls to rename the August Bank Holiday ‘Margaret Thatcher Day’ and to replace the five pound note’s Elizabeth Fry with Maggie. However, this is not as wide-spread a demand as it would appear to be; the demand is being exemplified by the media and the governing Tory party. In a bid to continue the celebration of the late Prime Minister, Tories are aiming to present the controversial leader on an everyday basis. But surely there are better and more politically neutral people who can take these places, if they do indeed need taking?

Margaret Thatcher’s death in April provided a fresh chance on the debate on her legacy – whichever side of the spectrum you swing, it is difficult to deny that she changed the scene of the UK forever – but the celebrations of this legacy have evolved into an unprecedented demand for everlasting jubilation. Tory MP for Wellingborough, Peter Bone, wants the country to celebrate the late August Bank Holiday as Margaret Thatcher day as early as next year, with the second reading of the Private Member’s Bill (aptly named ‘Margaret Thatcher Day Bill’) taking place today. At present, there are no days specially named after any politicians, let alone Prime Ministers, so it seems strange to allow the first one to be named after someone so controversial, who continues to provoke such strong debate nearly 35 years since she first took power. After all, surely there have been better candidates, solely within the Prime Minister category, for such an honour. Take, for example, Clement Attlee, the mid-20^th century Labour Prime Minister who oversaw the creation of the NHS and the world’s most extensive welfare state. This man’s work improved (and continues to do so) the life of millions, significant reducing the deaths of diphtheria, pneumonia and tuberculosis within the working class very quickly, as well as providing well-paid work to consultants. Whatever your views on the current NHS, this legacy continues to live on and improve the lives of millions, and is undeniably a major benefit to the UK.

Furthermore, although not a direct decision of the Palace of Westminster but the Bank of England, there is a view to remove Elizabeth Fry from the five pound note and replace her with the Conservative Prime Minister, Winston Churchill. However, as the only female (excepting Her Majesty) remaining on UK currency, there is a large campaign to increase the number of women remembered on our banknotes. Again, we are presented with the proposals to replace Elizabeth Fry with dear old Maggie. There are most certainly other women we can be proud of and owe more of today’s rights and luxuries too. We have Florence Nightingale, the social reformer and founder of modern nursing, Emmeline Pankhurst, the leader of the suffragette movement, and Emily Davison, the suffragette who died fighting for women’s rights to vote, who are all deserving of a celebration of their contributions to Britain’s rights and freedoms. They draw respect and inspire many across the political spectrum and across the world that Thatcher does not share; they lived their lives to further the women’s cause in a way that Thatcher denounced; and, they formed a pillar of society alike to those that Thatcher wished to destroy.

Despite her undeniable changes to the country, Thatcher is far less deserving of the privileges currently being discussed to be given posthumously than others who lived before her. As a controversial character, she inspires both joy and hatred in citizens across the country and, indeed, world. There are most definitely other more unifying and celebratory historical figures who are worthy of the luxuries that are being granted to our former Prime Minister, whom we should ensure we consider.

Don't Be Fooled - We're Not There Yet

Today, the news that the UK had finally shown economical growth of 1% and, hence, exited a recession was announced. It is pleasing news to the country, and the Government and the media are spinning into brilliance; yet I am sceptical. Now I know I'm not an economist but I can offer a short outsider's perspective on this item. I offer caution and definitely think it's no time for celebration yet.

First, and foremost, we must recognise that the quarter that has shown growth encompassed the Olympic period. The mixture of tourism, hospitality and sporting fever practically guaranteed that there would be no financial downturn over the three months from July to September; there were millions of people touring the city of London, an expensive place to be on the quietest of the day, and heightened prices (particularly within the Olympic park itself) for the events will more than definitely have seen a rise in profits amongst the companies. But, this is a onetime event; the aftermath of the Olympics is already over. In fact, if you're like me, I'd not thought about the Olympics at all for a while until this announcement. Despite the fact that it's only been announced that 0.2% of that is from the Olympic tickets, I'm sure the majority of this income is from the Olympics and it's not something that will be repeated. So don't hold your breath for massive growth in the next quarter.

Next, the Government is still announcing and planning further and further cuts that will have huge impacts on the incomes and budgets of households across the country. Hence, there will be little money to spend. People's bank accounts are already squeezed enough as it is without having to deal with a reduction in funding. With no internationals and no sporting events on, people will not spend anything other than on the basics, especially whilst having to save for Christmas.

And that's the final point. We are unlikely to see an immediate drop in growth next quarter, as Christmas will undoubtedly have some increased spending (on those tight budgets) that will cause some small amount of growth. But this will all cause a feeling of false hope; the Government and the media will spin it to say it's a good thing and something to congratulate the Government on, but in reality, they have done little. The Olympic project was set up under the Labour Government; this, plus the spending, was not a result of their policies, but the result of international and national patriotism and celebration.

I warn you, we will be back in a recession before long - unless, by chance, this happens to be the kick up the backside that the economy needs.