Recent research by the LSE (not Mrs Thatcher"s biggest fan) has revealed that from 1870 to 1980, Britain suffered more than a century of relative economic decline, reports accountancy services Harris & Co. The economy grew, but other leading economies such as France, the USA and Germany, all grew faster than the UK.
However, since 1980, there has been a dramtic turnaround. On a whole range of measures, from 1980 to 2011, the UK economy grew faster than all of our leading competitors. Interestingly, North Sea oil made almost no impact on growth over this period, so the growth was in fact driven by the "sustainable" economy.
The LSE attribute this economic miracle to the many "supply side" economic reforms made by Mrs Thatcher.