Okay. How long have you got? 🙂
After the war, we had our first few Labour govts who nationalised lots of industries and put up taxes and public spending. This carried on but by the 70s things were a little difficult. With so many industries owned nationally the unions were able to demand high pay and lots of benefits for their staff, otherwise they went on strike and, being national industries, the government lost lots of money.
So Thatcher was elected to sort all this out by privatising loads of companies and shutting down the industries she didn’t like (broadly speaking) like coal.
Now.. the social aspect of this is interesting. When taxes were high and public spending was high, this is a more left-wing situation – it’s spreading the wealth out more evenly amongst the people through taxation. A lot of people think this is good. Thatcher favoured a situation where people make lots of money for themselves, and this gets spread about buy people buying stuff from other people. Consequently, the 80s were all about individual money-making and greed.
Or to put it another way, Thatcher was very right wing (in British terms at least). Those people who like to make lots of money for themselves loved her because she gave them the opportunity to do so. Those people who wanted everyone to be nice to each other hated her.
There were a few incidents that were worse than that though. The coal miners didn’t like what was happening so they went on strike. This of course meant no electricity could be generated, which is pretty bad. So Thatcher closed down coal mines and bought the coal from elsewhere which successfully stopped the coal miners from holding the country to ransom. However a small side-effect of this was the removal of the livelihood of hundreds of thousands of people, which destroyed communities across large areas of the country.
That’s why she’s hated.
I’m sure I’ve got much of this all wrong but that’s how I understand it. I was only 4 when she was elected 🙂