V popular argument on the Right that our current problems are the result of ~statism/~socialism, & that the market-liberal reforms of the last ~half century were a mirage (contradicting Thatcher's own claim that her greatest achievement was Tony Blair/New Labour, because they ~continued much of her legacy).
Here's a reminder of what the state used to do in the pre-Thatcherite era:
👉Own/run water, gas, electricity, railway companies as nationalised public monopolies (all sold off in '80s/'90s, often to foreign states, sovereign wealth, PE funds etc.)
👉Own/run municipal bus companies, coal mines, airlines, car factories, steelworks, telecommunications, shipbuilders & much else besides (all privatised in '80s/'90s, many mothballed entirely)
👉Build ~50-100k municipal homes/yr & impose rent controls on the PRS (social housebuilding, and ALL housebuilding, is now a tiny fraction of the post-war peak, millions of units have been privatised under R2B, rent controls were lifted in '88, & the Housing Benefit Bill exploded)
👉Impose strict controls on Forex & the export of capital abroad (controls lifted in 1979 & never re-imposed)
👉Have full employment as consensus policy aim & an attempt to control incomes & prices through Pay Boards/Price Commissions corporatist relationship with trade unions (all abolished, with trade unions slowly emasculated, & with out-of-work/sickness & disability benefits bill exploding)
👉Impose punitive taxes (of 80/90% ) on high/"unearned" incomes
👉Spend ~5% of GDP on public capital investment/fixed capital formation (collapsing to ~1-2% in Thatcherite decade, where it has hovered around since)
Britain's pre-Thatcherite political economy had levels of state involvement in PRODUCTION NATIONAL DEVELOPMENT the MANAGEMENT/DIRECTION of capital (not simply redistribution regulation, as today), that are unimaginable nowadays.
Many of the phenomena Ben describes below have little to do with anything approaching a social-democratic political economy – the "massive taxes" (relative to GDP) are largely a function of demographics, common across the developed world (even though our base rate/higher rate/additional rate are MUCH lower than they once were). The regulatory regime in water, energy etc. is a product of privatisation itself. And what we're seeing on stuff like the Renters'/Employment Rights Acts, energy subsidies, judicial rulings on pay via Equalities Act, minimum wage etc. is an attempt by legislators to perform a kind of post-hoc, bureaucratic, progressive distributional correction to the outcomes of a growth model still based on private ownership of core sectors, poor collective bargaining, low levels of public investment, outsourcing, PFI/PPP, globalisation/import dependency, financialisation, with the state desperately facilitating continued FDI etc. etc. rather than altering the growth model itself (which has been broken since 2008).
Unless you've been sniffing glue, I don't know how you can look at the massive taxes, the regulatory burden, the high minimum wage, the price caps on various services, and the very generous State Pension and then claim that the UK has had 40 years of neoliberalism.