The Conservative Party in its current form is flailing – it’s time for Thatcher 2.0

There is a place for a right of centre, pro-business, pro-growth politician, writes Salma Shah

Just like the 1970s, Conservative principles today are fuzzy and blurred (AP)

There is a foreign war affecting energy prices, public worker strikes threaten to paralyse an already shaky economy –and a Conservative government with a leader lacking in authority. The Tory Party is struggling to find its identity in the aftermath of a global effort, against an existential threat to our way of life.

But wait – because this isn’t a picture of today, but of 1973, when Ted Heath was facing a cocktail of similarly extreme pressures eventually resulting in a general election that he went on to lose.

Only a few years later did we start seeing the beginnings of an economic revival spearheaded by one Margaret Thatcher. If history is any kind of indicator, it suggests things are about to get worse – and Conservative economics is about to get hardline.

Inflation shows little inclination to be tamed and our addiction to cheap money and unchecked stagnant wages for the past decade have led us here. It isn’t just Brexit or the pandemic, though they compound our predicament – there are other structural issues at play.

Like an increasing number of people, I don’t remember the 1970s. So my reference points are limited, fueled by the idealised visions of glam rock, Studio 54, unisex platform heels and fashion designer Halston’s biopic on Netflix, my generation may find it difficult to relate to the challenges of that time. We have been lucky, despite austerity and recession we have been with some effort, keeping the show on the road.

Those who have lived through the turbulence with three-day weeks and candlelight evenings are adamant they were not all that relaxing or romantic. And whilst one hopes the lights aren’t going out the inescapable similarities are a cause of concern.

A new generation is beginning to show us their frustrations echo that of their grandparents. They don’t see the state doing much for them and those primarily in the private sector watching their public sector compatriots make their lives just that bit harder with strikes and demands for hefty pay rises will eventually become incandescent.

Where is their place? Those who live at the whim of the markets. And who is speaking for them? Not Starmer or Johnson. When Mrs Thatcher ruthlessly pursued James Callaghan’s government for their incompetence and spoke to that cohort of people that are snobbily referred to as “suburban”. She offered vision, clarity and a zeal to get things done no matter how painful. She found an audience.

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Today, as a result of the pandemic and politics, there is a fundamental misalignment of Conservative values and principles with the government. It is attempting to find a middle ground and compromise when certainty is required: does the party believe in big government? Does it want to support the labour market through skills and what sort of plan will it therefore put in place?

Just like the Seventies, Conservative principles are fuzzy and blurred. Take the borrowing figures and the resulting interest payments, they’re enough to make any true blue Tory blush.

The government is trying to cling onto the red wall while losing its base. Its leadership is running out of ideas and hasn’t acknowledged just how much the world has changed and cannot adapt with it.

There is an opportunity for Thatcher 2.0. Not just as a personality or a caricature but someone with belief and courage who is going to make some tough decisions and run with them. There is a place for a right of centre, pro-business, pro-growth politician. The conditions are right, it’s now a question of waiting for them to emerge.