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Post by northwestman on Mar 19, 2024 16:43:43 GMT 1
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Post by wookeywombat on Mar 19, 2024 23:46:45 GMT 1
"All this is despite the fact that luck was on her side. A boom in North Sea oil alongside a rise in the price of oil meant the government saw a £270 billion windfall in today’s money – roughly enough to cover the entire cost of running the NHS for the first eight years of Thatcher’s premiership. In countries like Norway, this type of fossil fuel wealth was used to create a sovereign wealth fund; under Thatcher, the scale at which oil was exported and the damage it was having on the exchange rate and the economy led one expert to warn at the time that it would have been better to ‘leave the bloody stuff in the ground’"
This was always going to be her most damning legacy.
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