Margaret Thatcher died on 8 April 2013. But the UK’s longest-serving post-war prime minister still casts a long shadow over politics today, more than a decade later.
Only last week the Labour Prime Minister Sir Keir Starmer cited her example in support of his deregulation plans. “In the 1980s, the Thatcher government deregulated finance capital…,” he wrote in The Times, “This is our equivalent.”
No British woman leader other than Elizabeth I has been the subject of so many plays and films, or impersonated by so many actors.
The Iron Lady has been played by Meryl Streep, Gillian Anderson, Lindsay Duncan and Andrea Riseborough, among others.
Harriet Walter takes the lead in the latest Channel 4 drama Brian and Maggie, which recreates a TV interview in which the real Thatcher confirmed to journalist Brian Walden that she did not believe in “equality”.
A year of anniversaries
This is a big year for admirers – and detractors – of Thatcher.
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This October marks 100 years since her birth in Grantham, Lincolnshire, the daughter of a grocer.
The Westminster thinktank Policy Exchange is launching The Thatcher Centenary Project. This week it held its inaugural meeting marking an equally important Thatcher anniversary: 50 years since she became the leader of the Conservative Party.
On 5 February 1979, Thatcher scored a surprise victory over the incumbent Ted Heath in the first round of the Conservative leadership election, winning the votes of 130 MPs to Heath’s 119.
Sir Hugh Fraser MP, husband of the glamorous author Lady Antonia Fraser, also ran, garnering 16 votes.
Image: Ted Heath, behind Thatcher, at a Conservative Party conference in 1998, years after she ousted him. Pic: Reuters
Heath was out. He had been elected prime minister in 1970 and took the UK into the European Community, but after an economically damaging period of confrontation with trade unions, he was defeated in two general elections in 1974.
In the second round on 11 February 1975, she was elected leader of the opposition by a majority knock-out, 146 votes to 79 for Willie Whitelaw, 19 each for Jim Prior and Geoffrey Howe, and 11 for John Peyton.
She became the first female leader of a major British political party.
Four years later she beat Labour’s Jim Callaghan in the general election to become Britain’s first woman prime minister.
She would go on to win two further elections, and be prime minister for 11 years, until she was forced out by her party in the autumn of 1990 – a fate she put down to “treachery”.
Image: Thatcher at the Conservative Party conference in Blackpool in 1985. Pic: Reuters
‘We need impact’
That was more than 30 years ago and does not explain why she is still such a potent icon today, both hated and revered.
The explanation lies partly in the way in which her policies transformed Britain, partly in her political success and partly in the force of her character.
As she wrote in a letter to her daughter Carol: “Brain power is not enough. We need personality and impact as well.”
I started to cover British politics from about 1983 and interviewed Mrs Thatcher quite often.
Image: A younger Adam Boulton interviewing Thatcher
She was great to talk to because she engaged, even with a young reporter, and seemed to enjoy being challenged while arguing her position with conviction.
In her later years in Downing Street, she lost this openness and ability to respond to those who disagreed with her.
Months before her downfall, I remember the cabinet minister Chris Patten complaining: “She’ll have to go. She’s stopped listening.”
In foreign affairs, her years in power included a military victory to retake the Falkland Islands, a genuinely special relationship with US president Ronald Reagan, detente with Mikhail Gorbachev as the Soviet Union imploded and an increasingly sceptical approach to membership of what became the European Union.
Image: Ronald Reagan and Thatcher talk outside the Oval Office in July 1987. Pic: AP/Scott Applewhite
At home, Sir Keir is still praising her for the “meaningful change” she made to Britain/he and Rachel Reeves are trying on her clothes as they try to emulate her efforts to “drag Britain out of its stupor by letting loose our natural entrepreneurialism”.
This prime minister is now looking to the private sector to provide homes and build infrastructure.
The milk snatcher
Thatcher’s former speechwriter John O’Sullivan views her election as Tory leader as “the first big victory for radical Conservatism”.
She set about selling off council houses to create a “property-owning democracy” and began privatisation of many nationalised industries.
There was a widescale deindustrialisation of Britain’s traditional heavy industries and simultaneous deregulation which led to a boom in the services and financial sector.
She confronted trade union power and defeated the National Union of Mineworkers’ strike.
Image: A march by striking miners in Nottinghamshire in May 1984.
Pic: PA Archive
Unsurprisingly, she became a hate figure to many on the centre and left of British politics.
At my children’s primary school in the 1980s and ’90s there was a playground rhyme about “Margaret Thatcher milk snatcher”, a reference to the cancellation of free milk for school children during her time as Heath’s education secretary.
There is a song “Merry Christmas Maggie Thatcher/ We all celebrate today /’Cause it’s one day closer to your death” in 2005’s Billy Liar The Musical.
The audience voted to keep it in when she died in 2013.
Disciples of the Iron Lady
Thatcher’s legacy has been complicated for Conservative politicians.
They continue to argue over whether Thatcher in her prime would have been a leave or remain voter in the 2016 referendum.
She campaigned to join the EEC, enjoyed sparring with Brussels as prime minister, but became a bitter critic in her post-Downing Street decline.
Her immediate successor, John Major, built on Thatcherite policies but was heavily critical of her behaviour as a self-declared “back seat driver”.
Tory leaders since Major have all claimed to be her disciples.
From cold to warm in Labour land
On the Labour side, attitudes have generally warmed up over the years.
Neil Kinnock, the Labour leader who was beaten by Thatcher in 1992 and 1997, insists that the only thing he admires about her is her success as a woman. John Smith challenged her economic approach.
Tony Blair invited her for a private discussion in Number 10 soon after his general election victory and continued to treat her with wary respect.
Gordon Brown went further. He welcomed the then 81-year-old to tea in Downing Street and told journalists: “I admire Lady Thatcher… I am a conviction politician like her.”
Image: Thatcher and Gordon Brown in front of Number 10 in 2007.
Pic: Reuters/Luke MacGregor
On her death, Ed Miliband paid tribute to a woman who “broke the mould”.
Jeremy Corbyn, the left-winger who led Labour between 2015 and 2020, was the exception.
He stuck by the barbs he had aimed at prime minister Thatcher when he was a backbench Labour MP: “Every week, I speak to renters threatened with eviction. Homeless people struggling to survive. Parents using food banks. Elderly people who can’t afford heating. That is the legacy of Thatcherism. We will never achieve meaningful change until it ends for good.”
Today Sir Keir is happy to strike Thatcherite poses.
Ironically, while some Conservatives are celebrating Thatcher this year, other Tories want to move on.
Kwasi Kwarteng, who served briefly as Liz Truss’s “kamikaze” chancellor, chose this anniversary year to warn “modern politicians” that “they should not indulge in a grotesque cosplay of an idealised Thatcher who only ever existed in their imagination”.
The debate is as lively as ever about Thatcher and her legacy.
Image: Thatcher arriving at Downing Street after winning her first general election.
Pic: PA
She is not forgotten – whether people actually knew her when she was alive or not.
One thing everyone agrees on is that she always enjoyed a good argument, until her declining years.
With Churchill and Blair she is one of the most memorable British prime ministers of her century and her much-disputed political soul goes marching on into the next one.
Sir Keir Starmer has joined other European leaders in Kyiv to press Russia to agree an unconditional 30-day ceasefire.
The prime minister is attending the summit alongside French President Emmanuel Macron, recently-elected German Chancellor Friedrich Merz and Polish Prime Minister Donald Tusk.
It is the first time the leaders of the four countries have travelled to Ukraine at the same time – arriving in the capital by train – with their meeting hosted by President Volodymyr Zelenskyy.
Image: Sir Keir Starmer, Emmanuel Macron and Friedrich Merz travelling in the saloon car of a special train to Kyiv. Pic: Reuters
Image: Leaders arrive in Kyiv by train. Pic: PA
It comes after Donald Trump called for “ideally” a 30-day ceasefire between Kyiv and Moscow, and warned that if any pause in the fighting is not respected “the US and its partners will impose further sanctions”.
Security and defence analyst Michael Clarke told Sky News presenter Samantha Washington the European leaders are “rowing in behind” the US president, who referred to his “European allies” for the first time in this context in a post on his Truth Social platform.
“So this meeting is all about heaping pressure on the Russians to go along with the American proposal,” he said.
“It’s the closest the Europeans and the US have been for about three months on this issue.”
Image: Sir Keir Starmer, Volodymyr Zelenskyy and Emmanuel Macron among world leaders in Kyiv. Pic: AP
Image: Trump calls for ceasefire. Pic: Truth Social
Ukraine’s foreign minister Andrii Sybiha said Ukraine and its allies are ready for a “full, unconditional ceasefire” for at least 30 days starting on Monday.
Ahead of the meeting on Saturday, Sir Keir, Mr Macron, Mr Tusk and Mr Merz released a joint statement.
European leaders show solidarity – but await Trump’s backing
The hope is Russia’s unilateral ceasefire, such as it’s worth, can be extended for a month to give peace a chance.
But ahead of the meeting, Ukrainian sources told Sky News they are still waiting for President Donald Trump to put his full weight behind the idea.
The US leader has said a 30-day ceasefire would be ideal, but has shown no willingness yet for putting pressure on Russian president Vladimir Putin to agree.
The Russians say a ceasefire can only come after a peace deal can be reached.
European allies are still putting their hopes in a negotiated end to the war despite Moscow’s intransigence and President Trump’s apparent one-sided approach favouring Russia.
Ukrainians would prefer to be given enough economic and military support to secure victory.
But in over three years, despite its massive economic superiority to Russia and its access to more advanced military technology, Europe has not found the political will to give Kyiv the means to win.
Until they do, Vladimir Putin may decide it is still worth pursuing this war despite its massive cost in men and materiel on both sides.
“We reiterate our backing for President Trump’s calls for a peace deal and call on Russia to stop obstructing efforts to secure an enduring peace,” they said.
“Alongside the US, we call on Russia to agree a full and unconditional 30-day ceasefire to create the space for talks on a just and lasting peace.”
Image: Sir Keir and Volodymyr Zelenskyy during a meeting in March. Pic: AP
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2:21
Putin’s Victory Day parade explained
The leaders said they were “ready to support peace talks as soon as possible”.
But they warned that they would continue to “ratchet up pressure on Russia’s war machine” until Moscow agrees to a lasting ceasefire.
“We are clear the bloodshed must end, Russia must stop its illegal invasion, and Ukraine must be able to prosper as a safe, secure and sovereign nation within its internationally recognised borders for generations to come,” their statement added.
“We will continue to increase our support for Ukraine.”
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The European leaders are set to visit the Maidan, a central square in Ukraine’s capital where flags represent those who died in the war.
They are also expected to host a virtual meeting for other leaders in the “coalition of the willing” to update them on progress towards a peacekeeping force.
Military officers from around 30 countries have been involved in drawing up plans for a coalition, which would provide a peacekeeping force in the event of a ceasefire being agreed between Russia and Ukraine.
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On April 29, 2025, UK Finance Minister Rachel Reeves unveiled plans for a “comprehensive regulatory regime” aimed at making the country a global leader in digital assets.
Under the proposed rules, crypto exchanges, dealers, and agents will be regulated similarly to traditional financial firms, with requirements for transparency, consumer protection, and operational resilience, the UK Treasury said in a statement released following Reeves’ remarks.
Per the statement, the Financial Services and Markets Act 2000 (Cryptoassets) Order 2025 introduces six new regulated activities, including crypto trading, custody, and staking.
Rather than opting for a light-touch regime similar to the EU’s Markets in Crypto-Assets (MiCA), the UK is applying the full weight of securities regulation to crypto, according to UK-based law firm Wiggin. That includes capital requirements, governance standards, market abuse rules, and disclosure obligations.
“The UK’s draft crypto regulations represent a meaningful step toward embracing a rules-based digital asset economy,” Dante Disparte, chief strategy officer and head of global policy at Circle, told Cointelegraph.
“By signaling a willingness to provide regulatory clarity, the UK is positioning itself as a safe harbor for responsible innovation.”
Disparte added that the proposed framework can provide the predictability needed to “scale responsible digital financial infrastructure in the UK.”
Vugar Usi Zade, the chief operating officer (COO) at Bitget exchange, also expressed optimism regarding the new regulations, claiming that it “is a net positive” for the industry.
“I think a lot of companies recently exited or hesitated to enter the UK because they were not clear about what activities, products, and operations need FCA authorization. Firms finally get clear definitions of “qualifying crypto assets” and know exactly which activities—trading, custody, staking or lending—need FCA authorization.”
For exchanges, including Bitget, the UK’s draft rules mean they need full approval from the Financial Conduct Authority (FCA) to offer crypto trading, custody, staking, or lending services to UK users.
The rules also give companies two years to adjust their systems, like capital and reporting. “Mapping each service line to the new perimeter adds compliance overhead, but that clarity lets us plan product roll‑outs and invest in local infrastructure,” Zade said.
The new draft regulations reclassify stablecoins as securities, not as e-money. This means UK-issued fiat-backed tokens must meet prospectus-style disclosures and redemption protocols. Non-UK stablecoins can still circulate, but only via authorized venues.
Zade claimed that excluding stablecoins from the Electronic Money Regulations 2011 (EMRs), which keeps them out of the e‑money sandbox, could slow their use for payment.
However, Disparte, whose firm is the issuer of USDC (USDC), the world’s second-largest stablecoin by market capitalization, said predictability is key to fostering responsible growth in the UK.
“What matters most is predictability: a framework that enables firms to build, test, and grow responsibly—without fear of arbitrary enforcement or shifting goalposts. If realized, this could mark a pivotal moment in the UK’s digital asset journey.”
Ripple’s Cassie Craddock praising new UK draft rules. Source: Cassie Craddock
UK to require FCA approval for foreign crypto firms
Among the biggest changes as part of the new draft rules is the territorial reach. Non-UK platforms serving UK retail clients will need the FCA authorization. The “overseas persons” exemption is limited to certain B2B relationships, effectively ring-fencing the UK retail market.
Crypto staking enters the perimeter as well. Liquid and delegated staking services must now register, while solo stakers and purely interface-based providers are exempt. New custody rules extend to any setup that gives a party unilateral transfer rights, including certain lending and MPC (multiparty computation) arrangements.
“Some DeFi nuances still need fleshing out, but the direction is toward efficient, tailored compliance rather than blanket restriction,” Bitget’s Zade said.
He added that the broad “staking” definition might sweep in non‑custodial DeFi models lacking a central provider. “Proposed credit‑card purchase restrictions—though aimed at high‑risk use—could dampen retail participation in token launches,” he said.
Furthermore, Zade said bank‑grade segregation rules for client assets could burden lean DeFi projects. “Final rule tweaks will need to mitigate these side effects.”
The FCA plans to publish final rules on crypto sometime in 2026, setting the groundwork for the UK regulatory regime to go live. The roadmap to greater regulatory clarity in the UK could follow the European Union, which started to implement its MiCA framework in December.
Sir Keir Starmer will join other European leaders in Kyiv on Saturday for talks on the “coalition of the willing”.
The prime minister is attending the event alongside French President Emmanuel Macron, recently-elected German Chancellor Friedrich Merz and Polish Prime Minister Donald Tusk.
It will be the first time the leaders of the four countries will travel to Ukraine at the same time – on board a train to Kyiv – with their meeting hosted by President Volodymyr Zelenskyy.
Image: Sir Keir Starmer, Emmanuel Macron and Friedrich Merz travelling in the saloon car of a special train to Kiev. Pic: Reuters
Military officers from around 30 countries have been involved in drawing up plans for the coalition, which would provide a peacekeeping force in the event of a ceasefire being agreed between Russia and Ukraine.
Ahead of the meeting on Saturday, Sir Keir, Mr Macron, Mr Tusk and Mr Merz released a joint statement voicing support for Ukraine and calling on Russia to agree to a 30-day ceasefire.
Image: Sir Keir and Volodymyr Zelenskyy during a meeting in March. Pic: AP
“We reiterate our backing for President Trump’s calls for a peace deal and call on Russia to stop obstructing efforts to secure an enduring peace,” they said.
“Alongside the US, we call on Russia to agree a full and unconditional 30-day ceasefire to create the space for talks on a just and lasting peace.”
Please use Chrome browser for a more accessible video player
2:21
Putin’s Victory Day parade explained
The leaders said they were “ready to support peace talks as soon as possible”.
But they warned that they would continue to “ratchet up pressure on Russia’s war machine” until Moscow agrees to a lasting ceasefire.
“We are clear the bloodshed must end, Russia must stop its illegal invasion, and Ukraine must be able to prosper as a safe, secure and sovereign nation within its internationally recognised borders for generations to come,” their statement added.
“We will continue to increase our support for Ukraine.”
The European leaders are set to visit the Maidan, a central square in Ukraine’s capital where flags represent those who died in the war.
They are also expected to host a virtual meeting for other leaders in the “coalition of the willing” to update them on progress towards a peacekeeping force.
This force “would help regenerate Ukraine’s armed forces after any peace deal and strengthen confidence in any future peace”, according to Number 10.