The New Right
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The New Right emerged in the late 1970's, the main mascot for this movement was Margaret Thatcher. This is why it is often attributed as Thatcherism.
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It combined
neo-liberalism
A political ideology which emphasises free markets, limited government, and individual liberties.
and neo-conservatism.
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Thatcherism favoured the free markets as opposed to state intervention. This belief led her to be in favour of privatising several key industries in the UK.
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Key policies included reducing the power of trade unions,
cutting taxes
She reduced top rate of income tax from 83% to 60%.
, and reducing government spending on welfare. In addition to her reducing income tax, she actually increased VAT from 8% to 15%. These policies were aimed at stimulating economic growth, but greatly increased inequality.
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The New-Right also had a strong nationalistic character and was intolerant of alternative lifestyles. This remains as a cursor towards traditional social values.
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Currently, the Conservative Party retains some elements of this era. For example, the party is committed to "free markets" and "low taxation" as part of its economic policy.
