On Tuesday 10 March 1981 a new UK budget was presented to Parliament by teh Chancellor of the Exchequer Geoffrey Howe.
This was Howe's second budget and the second of the Thatcher leadership and was presented at a time of significant economic hardship in the UK. Inflation was running at 15% and manufacturing output was down by 9% over the previous year with unemployment up by one million. In budget measures, the price of a pint of beer went up 4p, spirits went up 60p, wine up 12p, and 20 cigarettes up 13p. Petrol duty went by by up a significant 20p per gallon.
Geoffrey Howe would become Thatcher's longest serving cambinet minister, resigning in November 1990, just three weeks before Thatcher's own resignation. He died in 2015.