Market-liberal supply-side programme focused on privatisation of state-owned industries, reduction of trade-union power, financial deregulation (Big Bang 1986), monetary discipline to break stagflation, and tax reform favouring capital and high earners. Proponents framed the programme as reversing post-war consensus drift toward corporatism and restoring market mechanisms as the primary allocator. Note: per D.3.1, NHS real spending grew under Thatcher — the movement did not dismantle universal healthcare, and the framework records this accurately rather than assuming Conservative = all privatisation.
Policy-content fingerprint — how the framework codes this movement on its axes
De jure and de facto independence of the central bank from fiscal authority. Per D.1.5 scope, one of the framework's defensible monetary positions.
unchanged
BoE formal independence came later (1997). Monetary policy was executed via Treasury guidance but with explicit inflation-targeting discipline from 1990.
Monetary discipline + privatisation + labour-market liberalisation align with Austrian priors; fiscal expansion during Falklands era and retention of NHS do not.
References
Hansard, Budget statements 1979–1989
Trade Union Act 1984 (UK)
Financial Services Act 1986 (UK)
Notes
Thatcherism is useful as a calibration case for three reasons: (1) multi-axis strong movement makes axes_summary semantics concrete; (2) NHS spending growth illustrates the D.3.1 content-over-label rule; (3) the movement spans Conservative governments but the coding changes materially around 1990 when Thatcher departed — a reminder that movements are not identical to party tenure.