Thatcherism describes the conviction politics, economic and social policy, and political style of the British Conservative politician Margaret Thatcher, who was leader of her party from 1975 to 1990. It has also been used by some to describe the beliefs of the British government while Thatcher was Prime Minister between May 1979 and November 1990, and beyond into the governments of John Major, Tony Blair, Gordon Brown and David Cameron.

Thatcherism claims to promote low inflation, the small state and free markets through tight control of the money supply, privatisation and constraints on the labour movement. It is often compared with Reaganomics in the United States, Rogernomics in New Zealand and Economic Rationalism in Australia as a key part of the worldwide neoliberal movement. Nigel Lawson, Thatcher's Chancellor of the Exchequer from 1983 to 1989, listed the Thatcherite ideals as:

Thatcherism is thus often compared to classical liberalism. Milton Friedman claimed that "the thing that people do not recognise is that Margaret Thatcher is not in terms of belief a Tory. She is a nineteenth-century Liberal." Thatcher herself stated in 1983: "I would not mind betting that if Mr Gladstone were alive today he would apply to join the Conservative Party". In the 1996 Keith Joseph memorial lecture Mrs. Thatcher argued that "The kind of Conservatism which he and I...favoured would be best described as ‘liberal’, in the old-fashioned sense. And I mean the liberalism of Mr. Gladstone, not of the latter day collectivists". Thatcher once told Friedrich Hayek: "I know you want me to become a Whig; no, I am a Tory". Hayek believed "she has felt this very clearly".

Margaret Hilda Thatcher, Baroness Thatcher, LG, OM, PC, FRS, née Roberts (born 13 October 1925) is a British politician and the longest-serving (1979–1990) British prime minister of the 20th century, and the only woman ever to have held the post. A Soviet journalist nicknamed her the "Iron Lady", which later became associated with her uncompromising politics and leadership style. As prime minister, she implemented conservative policies that have come to be known as Thatcherism.

Originally a research chemist before becoming a barrister, Thatcher was elected Member of Parliament (MP) for Finchley in 1959. Edward Heath appointed her Secretary of State for Education and Science in his 1970 government. In 1975 Thatcher defeated Heath in the Conservative Party leadership election and became Leader of the Opposition, as well as the first woman to lead a major political party in the United Kingdom. She became prime minister after winning the 1979 general election.

After entering 10 Downing Street, Thatcher introduced a series of political and economic initiatives to reverse what she perceived as Britain's precipitous national decline. Her political philosophy and economic policies emphasised deregulation (particularly of the financial sector), flexible labour markets, the privatisation of state-owned companies, and reducing the power and influence of trade unions. Thatcher's popularity during her first years in office waned amid recession and high unemployment, until economic recovery and the 1982 Falklands War brought a resurgence of support, resulting in her re-election in 1983. Thatcher was re-elected for a third term in 1987, but her Community Charge (popularly referred to as "poll tax") was widely unpopular and her views on the European Community were not shared by others in her Cabinet. She resigned as Prime Minister and party leader in November 1990, after Michael Heseltine launched a challenge to her leadership.

Vernon Bogdanor, CBE, FBA /ˈbɒɡdənɔr/ (born 1943) is Research Professor at the Institute for Contemporary History at King's College London, and a Fellow of Brasenose College, University of Oxford. He is one of Britain's foremost constitutional experts and has written extensively on political and constitutional issues. He is an advocate of constitutional reform including proportional representation, but supports the retention of the British Monarchy.

Educated at Bishopshalt School, Vernon Bogdanor gained his Bachelor of Arts in Philosophy, Politics, and Economics (with congratulatory First Class honours) from The Queen's College, Oxford. He has been Fellow and Tutor in Politics at Brasenose College, Oxford, since 1966, where he has been Senior Tutor (1979–85 and 1996–97), Vice-Principal, and (in 2002-03) Acting Principal. He is a Fellow of the British Academy, and an Honorary Fellow of the Society for Advanced Legal Studies. In 1998 he was awarded the CBE for contributions to constitutional history, and in 2009 he was appointed Chevalier in the Légion d'honneur.

Glenda May Jackson, CBE (born 9 May 1936) is a British Labour Party politician and former actress. She has been a Member of Parliament (MP) since 1992, and currently represents Hampstead and Kilburn. She previously served as MP for Hampstead and Highgate. After constituency changes for the 2010 general election, her majority of 42 votes was one of the closest results of the entire election.

As an actress, she won two Academy Awards for Best Actress: for Women in Love (1969) and A Touch of Class (1973).

Jackson was born in Birkenhead on the Wirral, Cheshire (now Merseyside) where her father was a bricklayer. Jackson was educated at the West Kirby County Grammar School for Girls, then worked for two years in a Boots chemist shop, before studying at RADA in Bloomsbury.

Having studied acting at RADA, Jackson made her professional stage debut in Terence Rattigan's Separate Tables in 1957, and her film debut in This Sporting Life in 1963. Subsequently a member of the Royal Shakespeare Company for four years, she worked for director Peter Brook in several productions, including of Peter Weiss' Marat/Sade as Charlotte Corday. Jackson also appeared in the film version.

Nigel Paul Farage ( /ˈfærɑːʒ/, FARR-ahzh; born 3 April 1964, Farnborough, Kent), is a British politician and is the Leader of the UK Independence Party (UKIP), a position he also held from September 2006 to November 2009. He is a Member of the European Parliament for South East England and co-chairs the Eurosceptic Europe of Freedom and Democracy group.

Farage is a founding member of the UKIP, having left the Conservative Party in 1992 after they signed the Maastricht Treaty. Having unsuccessfully campaigned in European and Westminster parliamentary elections for UKIP since 1994, he gained a seat as an MEP for South East England in the 1999 European Parliament Election — the first year the regional list system was used — and was re-elected in 2004 and 2009. Farage describes himself as a libertarian and rejects the notion that he is a conservative.

In September 2006, Farage became the UKIP Leader and led the party through the 2009 European Parliament Election in which it received the second highest share of the popular vote, defeating Labour and the Liberal Democrats with over two million votes. However he stepped down in November 2009 to concentrate on contesting the Speaker John Bercow's seat of Buckingham in the 2010 general election.