1979 the leadership changes - Justin A. Urqhuart Stewart's latest commentary

Justin is one of the most recognisable and trusted market commentators on television, radio, and in the press.

Originally trained as a lawyer, he has observed the retail market industry for 20 years whilst at Barclay's Stockbrokers and developed a unique understanding of the market’s roles and benefits for the private investor.

Each week we will bring you Justin's latest thoughts and commentary.

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1979 the Leadership Changes
Time to remember and respect a great leader who came to power in 1979, and changed the economy of their country irrevocably, reasserting its political strength and overseeing the radical adjustment in domestic society. These changes would reverberate both domestically and internationally and have a direct effect on the country’s subsequent leaders. These policies were not accepted by all and polarised opinions throughout the nation. I speak of course about ...Deng Xiaoping, the man who opened up the most populous nation in the world to become one of the globe’s largest economies.

Rest well Baroness T. She certainly brought out people’s emotions;; seemingly you either loved her or loathed her, but either way you couldn’t ignore her. History will probably show that it was as much her actions as anyone else’s that led to us subsequently having Tony Blair as PM and over a decade of Labour. After all, she was not defeated by her enemy beyond the walls, but rather the enemy within. No need for a Trojan horse in the Tories of that day, but rather those with a ‘lean and hungry look’ fearful for their own careers.

It will probably be the phrase “the lady’s not for turning” that will resonate over the years reflecting her iron will and determination. Of course the lady was for turning and did so even at the time of the speech. It was the monetarist gurus of Milton Friedman and Alan Walters goaded on by the ‘mad monk’ of Sir Keith Joseph that set out the economic course from 1979 until the U-turn in August 1981, and the realisation that something had to be done if re- election was ever going to be a possibility.

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