The Battle of Grand Gulf was fought on April 29, 1863, during th: Following a period of widespread economic slowdown and industrial strife in the 1970s, the Conservative government of the 1980s led by Margaret Thatcher initiated a radical policy of monetarism, deregulation, particularly of the financial sector (for example, the Big Bang in 1986) and labour markets, the sale of state-owned companies (privatisation), and the withdrawal of subsidies to others.[113]