Thatcherism in the context of "1979 United Kingdom general election"

Gladstonian liberalism or Gladstonianism is a political doctrine named after the British Victorian Prime Minister and Liberal Party leader William Ewart Gladstone. Gladstonian liberalism consisted of limited government expenditure and low taxation whilst making sure government had balanced budgets and the classical liberal stress on self-help and freedom of choice. Gladstonian liberalism also emphasised free trade, opposed government intervention in the economy and supported freedom and liberty as moral ideals. It is referred to as laissez-faire or classical liberalism in the United Kingdom and is often compared to Thatcherism.

Gladstonian financial rectitude had a partial lasting impact on British politics and the historian John Vincent contends that under Lord Salisbury's premiership he "left Britain's low tax, low cost, low growth economy, with its Gladstonian finance and its free trade dogmas, and no conscript army, exactly as he had found it...Salisbury reigned, but Gladstone ruled". In the early 20th century the Liberal Party began to move away from Gladstonian liberalism and instead developed new policies based on social liberalism (or what Gladstone called "constructionism"). The Liberal government of 1905–1914 is noted for its social reforms and these included old age pensions and National Insurance. Taxation and public expenditure was also increased and New Liberal ideas led to David Lloyd George's People's Budget of 1909–1910.

The Conservative and Unionist Party, commonly the Conservative Party and colloquially the Tories, is one of the two main political parties in the United Kingdom, along with the Labour Party. It sits on the centre-right to right-wing of the left–right political spectrum. Following its defeat by Labour at the 2024 general election it is currently the second-largest party by the number of votes cast and number of seats in the House of Commons; as such it has the formal parliamentary role of His Majesty's Most Loyal Opposition. It encompasses various ideological factions including one-nation conservatives, Thatcherites and traditionalist conservatives. There have been 20 Conservative prime ministers.

The Conservative Party was founded in 1834 from the Tory Party and was one of two dominant political parties in the 19th century, along with the Liberal Party. Under Benjamin Disraeli it played a preeminent role in politics at the height of the British Empire. In 1912 the Liberal Unionist Party merged with the party to form the Conservative and Unionist Party. Its rivalry with the Labour Party has shaped modern British politics for the last century. David Cameron sought to modernise the party after his election as leader in 2005, and the party governed from 2010 to 2024 under five prime ministers, latterly Rishi Sunak.

Margaret Hilda Thatcher, Baroness Thatcher (née Roberts; 13 October 1925 – 8 April 2013), was a British stateswoman who served as Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party from 1975 to 1990. She was the longest-serving British prime minister of the 20th century and the first woman to hold the position. As prime minister, she implemented policies that came to be known as Thatcherism. A Soviet journalist dubbed her the "Iron Lady", a nickname that became associated with her uncompromising politics and leadership style.

Thatcher studied chemistry at Somerville College, Oxford, and worked briefly as a research chemist before becoming a barrister. She was elected Member of Parliament for Finchley in 1959. Edward Heath appointed her secretary of state for education and science in his 1970–1974 government. In 1975, she defeated Heath in the Conservative Party leadership election to become leader of the opposition, the first woman to lead a major political party in the UK.

The Anglo-Saxon model (so called because it is practiced in Anglosphere countries such as the United Kingdom, the United States, Canada, New Zealand, Australia and Ireland) is a regulated market-based economic model that emerged in the 1970s.

Based on the Chicago school of economics, it was spearheaded in the 1980s in the United States by the economics of then President Ronald Reagan (dubbed Reaganomics), and reinforced in the United Kingdom by then Prime Minister Margaret Thatcher (dubbed Thatcherism).

The post-war consensus, sometimes called the post-war compromise, was the economic order and social model of which the major political parties in post-war Britain shared a consensus supporting view, from the end of World War II in Europe in 1945 to the late-1970s. It ended during the governance of Conservative Party leader Margaret Thatcher. The consensus tolerated or encouraged nationalisation, strong trade unions, heavy regulation, high taxes, and an extensive welfare state.

The notion of a post-war consensus covered support for a coherent package of policies that was developed in the 1930s and promised during the Second World War, focused on a mixed economy, Keynesianism, and a broad welfare state. Historians have debated the timing of the weakening and collapse of the consensus, including whether it ended before Thatcherism arrived with the 1979 general election. They also suggest that the notion might not have been as widely supported as some claim, and that the word consensus might be inaccurate to describe the period. Embedded liberalism has been applied to describe the post-war consensus on a global stage, around the same period from World War II to the crisis of the 1970s, and contrast it with the paradigm shift led by neoliberalism that followed.