The Economic and Political Influence of Margaret Thatcher’s Legacy on Toni Blair’s Leadership (1979-2007)

Abstract

Over the course of the 20th century, there were substantial changes in British politics, and new political parties were created to implement similar ideas. Thatcherism completely changed British politics and had a disastrous impact on the Labour Party. This study solely looks at the rules. From 1979 until his resignation in 2007, Blair presided over the Conservative and Labour parties as their leader. It aims to illustrate and analyze the manner in which Tony Blair's New Labour embraced Thatcherism. By analyzing the similarities and differences between Blairism and Thatcherism, these evaluations are made. It was used to reveal both ideologies in terms of the comparative methodology. By taking a liberal stance, the Labour Party was able to reconstitute itself, and Blairism was seen as a continuation of Thatcher's capitalism with some social values preserved. Consequently, the word "Blatcherism" was coined.