Largely because she wouldn't keep using tax payers money to keep bailing out lame duck companies, and wouldn't be bullied by unions. Harold Wilson and James Callaghan closed down far more collieries than Thatcher, and more manufacturing jobs were lost under Blair and Brown, than under Thatcher. 1.9 million lost under Thatcher, 1.7 lost between 1997 and 2007, and then there was the credit crunch. The last Labour government inherited a budget surplus, and during a time they claimed was a period of unprecedented economic growth, created an £80bn budget deficit, and the trend of wage stagnation and rising prices, which lead to the rise of food banks started in 2003. There was more social mobility under Margaret Thatcher, than Wilson/Callaghan and Blair/Brown.

An easy example are some of the school districts in my county were I live. These schools have inflated their budgets paying for ever kind of program there is in an attempt to keep pace with the better school districts. The taxes hit a critical level and the people who can leave have left leaving the poorer people stuck to foot the bill. Of course they can't afford the programs but are also unwilling to give up the school programs so the school districts are going bankrupt and need the state to bail them out every year. Basically ran out of other people's money.