Margaret Thatcher, serving as Prime Minister of the United Kingdom from 1979 to 1990, was known as the "Iron Lady." This nickname was initially given to her by a Soviet journalist due to her staunch opposition to communism and strong leadership style. Thatcher's premiership was marked by significant economic reforms, including deregulation, privatization of state-owned industries, and reducing the power of trade unions. Her policies aimed at reviving the British economy, which had faced stagnation, were both praised and heavily criticized. Thatcher's leadership style and ideological fervor left a lasting impact on British politics and redefined the Conservative Party's direction, shaping modern conservative thought.