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Reply to "Margaret Thatcher Passes Away"
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[quote=Anonymous]From the Telegraph - a conservative UK daily: [i]"The centrepiece of her first administration was the reform of trades unions and the restructuring of the British economy. The top rate of tax was soon cut to 60 per cent from 83 per cent, and a punitive rate of 98 per cent on unearned income was brought down to the standard tax rates. Exchange controls were lifted and VAT was raised from eight to 15 per cent to shift the balance towards an economy where taxes on consumption rather than on income were the norm. Subsidies to loss-making industries were also ended, as British business was told to compete on its own in world markets."[/i][/quote]
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