British factories boosted their output by 7.5pc between the second quarter of 1979 and the third quarter of 1990, when she left Downing Street, according to the Office for National Statistics.
Output had grown another 4.9pc by the start of 1997, when the Tories were booted out. Given the bitterness of the 1980s’ recession, caused by the desperate need to wring out extreme levels of inflation from the system by using high interest rates, it shows just how effective her supply-side reforms turned out to be.
The real decline happened under Labour: in the second quarter of 2010, when Gordon Brown left office, the output of UK factories was fractionally lower than it was when Thatcher took her last, tearful ride in that ministerial Jaguar. It was significantly lower than when John Major left.
So a little less of that massacre of British industry in the 80s rhetoric please.