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Laurie Penny: What Margaret Thatcher means to my generation

We are living in the shadow not of Thatcher herself, but of Thatcher the icon.

Why do young liberals hate Margaret Thatcher? It's a fair question, given that many of us, myself included, were still potty-training when she left Downing Street 20 years ago. We weren't on those picket lines. We weren't in those riots. We weren't even old enough to understand why our parents had lost their jobs. So why the drunken half-jokes about dancing on her grave? Why, after two decades, is it still so personal?

It could hardly be anything else. Today's young people are living in the shadow not of Thatcher herself, but of Thatcher the icon. Thatcher for us isn't a real politician with convictions and committees to attend: she is an image, the wicked witch in the woods, the rubber mask of neoliberalism in drag gurning down at a generation just beginning to understand how it has been cheated. In most respects, we still live in a Thatcherite society, atomising itself into marketable units at the expense of the social. Thatcher has become part of the creation myth.

Young people who weren't born during the poll tax riots focus their alienated rage on the image of Thatcher, because, in neo-Thatcherite Britain, images are all we have. The Iron Lady and her cronies instigated the junk-food principle of politics, whereby hungry, needy people will invariably swallow something that isn't good for them if it has a recognisable cartoon face on it - even if, as the coalition cabinet proves, it is sickeningly rich and stuffed with yellow preservatives.

Handbags at dawn

For young women, Maggie casts a second shadow over the entire notion of female empowerment. Twenty years after she left office, it is depressing rather than encouraging that Thatcher is still the enduring Anglo-American model of a woman in a position of political power, one to which all women seeking public office, from Sarah Palin to Harriet Harman, are eventually expected to respond.

Thatcher was no more a feminist than Bradley from S Club 7 was ghetto, but she created a brand of female empowerment - all heels, warmongering and expensive handbags - striking enough to replace the erstwhile aspiration of real woman-power.

There were good reasons for her stylistic self-management; the electorate was always far more likely to accept an Iron Lady than a woman of flesh and blood. But that handbag hovers over today's ambitious young women like a sartorial guillotine, reducing feminism, along with progressive politics, to a lifestyle choice, and neutralising it in the process. As the recession has given the lie to the dream of perpetual growth, young people have begun to develop an idealised, almost pantomimic understanding of what was lost.

Ask any 20-year-old for a Thatcher slogan and they will tell you, "She said there's no such thing as society." We understand, and painfully so, that we now live in a country where community has been replaced with an image of community that can be broken up and sold back to us at a profit.

This is what the "big society" is all about: not cuddly One-Nation Toryism, but the logical conclusion of Thatcherism, with the corporate iconography of society replacing the social even as the welfare state is destroyed. It is no accident the Camerons have employed a stylist and a photographer at public expense, while it has been decided that "wasteful" quangos such as the Youth Justice Board ought to be axed. In personality politics, image is everything.

We may be too young to remember Thatcher high-heeling it out of No 10, but our leaders still dance to the rhythm of her politics and our aspirations are still dominated by her project. The mythology of Thatcherism is more than mortal. When Elton John is called upon to sing her eulogy, he will no doubt conclude that the country burned out long before her legend ever will.

Laurie Penny is a contributing editor to the New Statesman. She is the author of five books, most recently Unspeakable Things .

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How can Britain become a nation of homeowners?

David Cameron must unlock the spirit of his postwar predecessors to get the housing market back on track. 

In the 1955 election, Anthony Eden described turning Britain into a “property-owning democracy” as his – and by extension, the Conservative Party’s – overarching mission.

60 years later, what’s changed? Then, as now, an Old Etonian sits in Downing Street. Then, as now, Labour are badly riven between left and right, with their last stay in government widely believed – by their activists at least – to have been a disappointment. Then as now, few commentators seriously believe the Tories will be out of power any time soon.

But as for a property-owning democracy? That’s going less well.

When Eden won in 1955, around a third of people owned their own homes. By the time the Conservative government gave way to Harold Wilson in 1964, 42 per cent of households were owner-occupiers.

That kicked off a long period – from the mid-50s right until the fall of the Berlin Wall – in which home ownership increased, before staying roughly flat at 70 per cent of the population from 1991 to 2001.

But over the course of the next decade, for the first time in over a hundred years, the proportion of owner-occupiers went to into reverse. Just 64 percent of households were owner-occupier in 2011. No-one seriously believes that number will have gone anywhere other than down by the time of the next census in 2021. Most troublingly, in London – which, for the most part, gives us a fairly accurate idea of what the demographics of Britain as a whole will be in 30 years’ time – more than half of households are now renters.

What’s gone wrong?

In short, property prices have shot out of reach of increasing numbers of people. The British housing market increasingly gets a failing grade at “Social Contract 101”: could someone, without a backstop of parental or family capital, entering the workforce today, working full-time, seriously hope to retire in 50 years in their own home with their mortgage paid off?

It’s useful to compare and contrast the policy levers of those two Old Etonians, Eden and Cameron. Cameron, so far, has favoured demand-side solutions: Help to Buy and the new Help to Buy ISA.

To take the second, newer of those two policy innovations first: the Help to Buy ISA. Does it work?

Well, if you are a pre-existing saver – you can’t use the Help to Buy ISA for another tax year. And you have to stop putting money into any existing ISAs. So anyone putting a little aside at the moment – not going to feel the benefit of a Help to Buy ISA.

And anyone solely reliant on a Help to Buy ISA – the most you can benefit from, if you are single, it is an extra three grand from the government. This is not going to shift any houses any time soon.

What it is is a bung for the only working-age demographic to have done well out of the Coalition: dual-earner couples with no children earning above average income.

What about Help to Buy itself? At the margins, Help to Buy is helping some people achieve completions – while driving up the big disincentive to home ownership in the shape of prices – and creating sub-prime style risks for the taxpayer in future.

Eden, in contrast, preferred supply-side policies: his government, like every peacetime government from Baldwin until Thatcher’s it was a housebuilding government.

Why are house prices so high? Because there aren’t enough of them. The sector is over-regulated, underprovided, there isn’t enough housing either for social lets or for buyers. And until today’s Conservatives rediscover the spirit of Eden, that is unlikely to change.

I was at a Conservative party fringe (I was on the far left, both in terms of seating and politics).This is what I said, minus the ums, the ahs, and the moment my screensaver kicked in.

Stephen Bush is editor of the Staggers, the New Statesman’s political blog.