Quite right! Even before PM Thatcher, the UK had some serious problems in the 1970s that is why she was elected in the first place!
"... Britain had once outperformed its closest Continental peers on the back of a market-friendly economic model created by Thatcher, preserved by Major, and adapted by Blair. Since the disastrous premiership of Labour Prime Minister Gordon Brown, Britain has sickened itself with the same maladies that have since left most of Western Europe stagnating. ..."
Figure 2: Government Debt to GDP Ratios in the UK, France, and Germany
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