Flags have been lowered to half mast at Downing Street.
Known as the Iron Lady, Margaret Thatcher governed Britain from 1979 to 1990.
She will go down in history not only as Britain's first female prime minister, but as the woman who transformed Britain's economy in addition to being a formidable rival on the international stage.
Lady Thatcher was the only British prime minister to leave behind a set of ideas about the role of the state which other leaders and nations strove to copy and apply.
Many features of the modern globalised economy - monetarism, privatisation, deregulation, small government, lower taxes and free trade - were all promoted as a result of policies she employed to reverse Britain’s economic decline.
Above all, in America and in Eastern Europe she was regarded, alongside her friend Ronald Reagan, as one of the two great architects of the West’s victory in the Cold War.
Of modern British prime ministers, only Lady Thatcher’s girlhood hero, Winston Churchill, acquired a higher international reputation.
She is survived by her two children.
Lady Thatcher was the only British prime minister to leave behind a set of ideas about the role of the state which other leaders and nations strove to copy and apply.
Many features of the modern globalised economy - monetarism, privatisation, deregulation, small government, lower taxes and free trade - were all promoted as a result of policies she employed to reverse Britain’s economic decline.
Above all, in America and in Eastern Europe she was regarded, alongside her friend Ronald Reagan, as one of the two great architects of the West’s victory in the Cold War.
Of modern British prime ministers, only Lady Thatcher’s girlhood hero, Winston Churchill, acquired a higher international reputation.
She is survived by her two children.
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