In death, Thatcher has been reborn into myth

The Conservative Party has never recovered from what it did to Margaret Thatcher and from the legacy of bitterness that resulted.

The British establishment is very good at weddings and funerals. The training begins early in our grand public schools, with their deep archival memory of imperial conquest and loss, their venerable buildings and chapels, their militaristic rituals and traditions and prevailing ethos of muscular Christianity. Margaret Thatcher, of course, was not born into the High Establishment, even though she married a millionaire businessman and sent her only son to Harrow. This was partly what made her so fascinating and such an unlikely leader of the Conservative Party.

I was present this morning inside St Paul’s Cathedral, that magnificent symbol of British resilience and defiance during the Blitz, and found the funeral service at times beautiful in the choice of readings, poetry (T S Eliot, Wordsworth), music (Fauré, Bach) and hymns (“I Vow to thee My Country”), and not at all triumphalist. Thatcher was not a war leader, even if she spent most of her premiership on a war footing, and this was a state funeral in all but name. The concerns about its cost are legitimate.

There’s been nothing in the culture to compare with the past ten days since the death of Diana in 1997. On that occasion the outpouring of grief was driven from the bottom up: the people loved Diana and they demanded that the royal family share publicly in their grief. The response to Margaret Thatcher’s death was a top-down phenomenon. It was as if the Conservative establishment was mourning not only the passing of a politician but something more than that, something tied up with the failures and melancholy of the present – a stagnating economy, a struggling and mediocre coalition government, a divided and unhappy Tory party. In the exaggerated veneration of Thatcher there is an implicit rebuke to David Cameron, who was at ease in St Paul’s today, as you would expect of someone of his background. He’s been well trained for these kinds of long recessionals and ceremonial farewells.

There were of course many familiar faces in attendance, from most of the present cabinet to those who served under Thatcher during her years in power, as well as those who fought on her side in the cold war, such as the former Solidarity leader Lech Walesa.

Thatcher was a notable philo-Semite – one of her more appealing characteristics – and the Israeli prime minister, Binyamin Netanyahu, and his wife had made the trip to London, as watchful as ever and flanked even inside St Paul’s by belligerent security operatives, as if to suggest they didn’t trust British security.

The sermon by the Bishop of London, Richard Chartres, bearded friend of Prince Charles, was well modulated and amusing in parts. It aspired to be apolitical: “This, at Lady Thatcher’s personal request, is a funeral service, not a memorial service with the customary eulogies.”

Chartres briefly mentioned “the storm of conflicting opinions” about Thatcher before moving on to remark on her Nonconformist, Methodist upbringing and her “perseverance in struggle [and her] courage to be”. There was a nice quasi-philosophical disquisition on the nature of personal identity that would have interested John Locke. There was also an unintentional allusion, I think, to one of her favourite phrases: “Lying here, she is one of us, subject to the common destiny of all human beings.” Would the august bishop have been deemed “one of us”?

Chartres offered his own political (mis)reading of her notorious observation that there was no such thing as society and suggested that she had been misunderstood. And, in a remark that would surely have angered the Scottish First Minister, Alex Salmond, he quoted from her address to the General Assembly of the Church of Scotland: “I leave you with that earnest hope that may we all come nearer to that other country whose ‘ways are ways of gentleness and all her paths are peace’.”

Perhaps he had forgotten that this 1988 address in Edinburgh, her so-called Sermon on the Mound, in which she made an impassioned theological defence of her free-market dogmatism, enraged and appalled Scots. Delivered in the year before the poll tax was implemented in Scotland, Thatcher’s “sermon” contributed to the Tories’ definitive defeat north of the border.

Before the funeral service began, as the assembled guests and mourners waited for the Queen and then the coffin to arrive, it was fascinating to observe the interplay between our three main party leaders as well three former prime ministers: Major, Blair and Brown. Ed Miliband was in animated conversation with Nick Clegg before withdrawing into himself, as if his thoughts were full of the presentiment of power. Tony Blair was one seat away from Gordon Brown – they were separated by Cherie Blair – whose arm he reached out to touch as he sat down. Brown did not exactly recoil, but their exchange was very brief, though Brown spoke for longer to Cherie. When David and Samantha Cameron arrived, they exchanged happy kisses with the Blairs but Brown made no attempt to stand or shake the Prime Minister’s hand. He could not bring himself even to look up at Cameron, whom he loathes.

Bishop Chartres ended his address by quoting from Eliot’s “Little Gidding” (1942) from Four Quartets, a section from which was chosen as the preface to the service sheet: “In this Easter season Death is revealed, not as a full stop but as the way into another dimension of life.”

As Eliot, that High Anglican romantic conservative, puts it:

"What we call the beginning is often the end

And to make an end is to make a beginning.

The end is where we start from."

It is paradoxical indeed that in death Margaret Thatcher has been reborn . . . into myth. I was at school when she came to power and had recently graduated when she was ousted from Downing Street. She and her policies defined my adolescence and early adulthood, as they did Cameron’s, Clegg’s, Osborne’s and Miliband’s.

Nowadays Miliband likes to portray himself as a “Thatcheresque”, consensus-breaking insurgent. For Cameron, speaking on the Today programme this morning, “we are all Thatcherites” now – one of his more preposterous claims. What is not in doubt is that the Conservative Party has never recovered from what it did to Margaret Thatcher and from the legacy of bitterness from her departure. The fissures have just got even wider.

Members of the armed services carry the coffin following the ceremonial funeral of Margaret Thatcher at St Paul's Cathedral. Photograph: Getty Images.

Jason Cowley is editor of the New Statesman. He has been the editor of Granta, a senior editor at the Observer and a staff writer at the Times.

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BHS is Theresa May’s big chance to reform capitalism – she’d better take it

Almost everyone is disgusted by the tale of BHS. 

Back in 2013, Theresa May gave a speech that might yet prove significant. In it, she declared: “Believing in free markets doesn’t mean we believe that anything goes.”

Capitalism wasn’t perfect, she continued: 

“Where it’s manifestly failing, where it’s losing public support, where it’s not helping to provide opportunity for all, we have to reform it.”

Three years on and just days into her premiership, May has the chance to be a reformist, thanks to one hell of an example of failing capitalism – BHS. 

The report from the Work and Pensions select committee was damning. Philip Green, the business tycoon, bought BHS and took more out than he put in. In a difficult environment, and without new investment, it began to bleed money. Green’s prize became a liability, and by 2014 he was desperate to get rid of it. He found a willing buyer, Paul Sutton, but the buyer had previously been convicted of fraud. So he sold it to Sutton’s former driver instead, for a quid. Yes, you read that right. He sold it to a crook’s driver for a quid.

This might all sound like a ludicrous but entertaining deal, if it wasn’t for the thousands of hapless BHS workers involved. One year later, the business collapsed, along with their job prospects. Not only that, but Green’s lack of attention to the pension fund meant their dreams of a comfortable retirement were now in jeopardy. 

The report called BHS “the unacceptable face of capitalism”. It concluded: 

"The truth is that a large proportion of those who have got rich or richer off the back of BHS are to blame. Sir Philip Green, Dominic Chappell and their respective directors, advisers and hangers-on are all culpable. 

“The tragedy is that those who have lost out are the ordinary employees and pensioners.”

May appears to agree. Her spokeswoman told journalists the PM would “look carefully” at policies to tackle “corporate irresponsibility”. 

She should take the opportunity.

Attempts to reshape capitalism are almost always blunted in practice. Corporations can make threats of their own. Think of Google’s sweetheart tax deals, banks’ excessive pay. Each time politicians tried to clamp down, there were threats of moving overseas. If the economy weakens in response to Brexit, the power to call the shots should tip more towards these companies. 

But this time, there will be few defenders of the BHS approach.

Firstly, the report's revelations about corporate governance damage many well-known brands, which are tarnished by association. Financial services firms will be just as keen as the public to avoid another BHS. Simon Walker, director general of the Institute of Directors, said that the circumstances of the collapse of BHS were “a blight on the reputation of British business”.

Secondly, the pensions issue will not go away. Neglected by Green until it was too late, the £571m hole in the BHS pension finances is extreme. But Tom McPhail from pensions firm Hargreaves Lansdown has warned there are thousands of other defined benefit schemes struggling with deficits. In the light of BHS, May has an opportunity to take an otherwise dusty issue – protections for workplace pensions - and place it top of the agenda. 

Thirdly, the BHS scandal is wreathed in the kind of opaque company structures loathed by voters on the left and right alike. The report found the Green family used private, offshore companies to direct the flow of money away from BHS, which made it in turn hard to investigate. The report stated: “These arrangements were designed to reduce tax bills. They have also had the effect of reducing levels of corporate transparency.”

BHS may have failed as a company, but its demise has succeeded in uniting the left and right. Trade unionists want more protection for workers; City boys are worried about their reputation; patriots mourn the death of a proud British company. May has a mandate to clean up capitalism - she should seize it.