KLB Userverkiezingen 2014 - #106 PSV voor de ekten

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1. Average growth. Under Thatcher, GDP rose by 29.4 per cent — an average of 0.6 per cent growth per quarter. (That’s the same as the average growth rate from 1955 to 2013.)

3. Unemployment up, then down, then up again. The unemployment rate rose from 5.3 per cent to a high of 12 per cent in 1984, before falling to 7.5 per cent when Thatcher left office. It began to rise again in 1990, and continued to do so after she left, reaching a high of 10.8 per cent in January 1993.

4. Inequality rose dramatically… The Gini coefficient went from 0.25 in 1979 to 0.34 in 1990.

5. …but were the poor better off? Thatcher said she didn’t care about the gap between rich and poor, but rather that everyone became better off in absolute terms. So did the poor get richer over the Thatcher years? As the below graph shows, they did (slightly) before you take into account rising housing costs. The income of the 10th percentile rose by 4.6 per cent in real terms before housing costs (the income of the 90th percentile rose by 47 per cent). But after housing costs, the real income of the 10th percentile fell by 2.4 per cent — so the poor were in fact worse off in 1990 than in 1979 (the 90th percentile were 48 per cent better off after housing costs).

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2. Manufacturing jobs lost, but more service jobs created. A net of 1.6 million jobs were created under Thatcher. The manufacturing industry lost 1.9 million, while the services sector grew by 3.6 million.