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Its success fuelled national economic recovery for a quarter of a century. That Thatcherite agenda paved the way and set the pace for globalisation internationally. The party’s greatest modern spell was characterised and underwritten by an ideological and cultural crusade committed to state contraction, extending market forces and reversing decades of relative economic decline. This truth has been lurking since the Brexit revolt six years ago. The first is that the British Conservatives are no longer held together by ideological glue. Regardless of who follows, an entirely new set of problems come to the fore, which will have implications globally. Ex-chancellor Rishi Sunak, who at least has some clear and consistently held economic views, has served notice that the next leader should run a competent government and follow a coherent policy agenda. Now he is toast and a leadership spill is on. The ructions of the past couple of days mean that finding another 30 of his own MPs to vote against him was an absolute certainty.
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Next week the rules for a second confidence vote would have been amended. The timetable had been set for his very public and brutal guillotining had he sought to stay. Margaret Thatcher gave the right an ideological glue that worked. “He has neither the character nor the temperament to be our prime minister”, concluded Andrew Mitchell, a party grandee-in-chief, neatly summarising middle opinion in the rebellion among his own troops. In the past month, he has scraped the endorsement of his parliamentary colleagues, catastrophically lost two byelections, and now been blindsided by two very senior cabinet walkouts and fired another, along with more than 50 junior resignations.
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The curtains have come down on Boris Johnson’s chaotic tenure as British prime minister.