Today’s recession – any lessons from the 1980s?
The recession of 2022 and 2023 has big similarities but also huge differences with the early 1980s recession of Margaret Thatcher as Tony McMahon discovers
depression
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Inflation and unemployment under Thatcher
Both unemployment and inflation soared in the first two years of the Thatcher government though the Tories were open to a rise in the jobless figures
The economic Recession of 1979 to 1981
Between 1979 and 1981, Prime Minister Margaret Thatcher presided over an unprecedented economic recession that devastated manufacturing industry