54.Margaret Thatcher ◆ She was the Prime Minister elected in 1979.She led her Conservative government to carry out a radical programme of reform. Foreign exchange controls were lifted,rules governing banks loosened and many state- owned businesses were privatised.As a result, inflation came under control,but unemployment rate increased rapidly.54. Margaret Thatcher ◆ She was the Prime Minister elected in 1979. She led her Conservative government to carry out a radical programme of reform. Foreign exchange controls were lifted, rules governing banks loosened and many state￾owned businesses were privatised. As a result, inflation came under control, but unemployment rate increased rapidly