Of all the nice and nasty things said about Margaret Thatcher since the sad news of her death yesterday, we that she was a driven woman who knew her own mind and had a desire to get things done. Right or Left she was a woman of action.
So if the Iron Lady was in her pomp now, what would the UK be doing about its problems? I posit it would be something like the following:
1. Europe - Nothing different I feel, Thatcher saw the post-war need for a more united Europe although her fear of a united Germany has come to pass in a way which she would not have expected with its use of the Euro as a tool for domination.
2. Economy - Taxes would have been cut and the deficit would have grown, now we would be worrying if the rise in revenues was going to make up for extra debt pile. Thatcher would have trod carefully on the Welfare budget as she always did.
3. Immigration - A staunch nationalist, Thatcher would have worked hard to stop unlimited immigration, she understood families and resisted big cultural changes - this is the issue she would be targeting the EU on re allowing too much transfer of people.
4. Unemployment - With visions of the damage of high inflation I doubt the policy of QE and the ultra-low rates that have created zombie banks and companies would have been passed. Unemployment would thus be higher with more companies going to the wall, but perhaps more like the USA our recovery would be quicker as new firms rose from the ashes.
So what would a strong leader do now, there are always constraints and you can't wave a wand - what would we want a new Thatcher to do to turn our Country around from the financial crisis?