Margaret Thatcher and George Bush Serve One More Term in Office

For the purpose of this thread, let's assume that Prime Minister Margaret Thatcher (unlike in OTL) is able to fend off an intraparty challenge in 1990, and remain leader of the Conservative Party going into another election (probably either in 1991 or 1992) against Neil Kinnock of the Labour Party, and pledging to her ministers that if she wins another term, it would be her last.

Let's also assume that the economic recovery in the United States occurs earlier than it actually did, enabling the incumbent President George H. W. Bush to be better placed to win a second term in the 1992 elections. With hopes fading of seriously contesting the general election, Democrats instead nominate another liberal -Jerry Brown of California.

What are the butterflies in this scenario? What impact does anyone see in having Thatcher and Bush serving one more term?
 
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Thatcher

I suppose if Thatcher stays on she goes all the way for Saddam in the Gulf-Wars or assuming that this is what keeps her in power for another term in the first place. Thatcher wanted to downsize the state, if she stays on a second-term, then she will without a doubt try to reduce the massive size of government, reduce the debt/deficit and cut taxes. I'm thinking she privatizes even more of what she did and maybe partially the NHS and stops the expansion of many other Government programs and considerably reduces many. I'm certain she would deal with the immigration issue, which would stop the future immigration crisis from even occurring and thus keeping a very large portion of the precious votes away from the Lib-Dem and Labour party. The Tory Party definitely will not injure itself in the knee over the European issue as badly as it did in OTL. Furthermore, I can see some of the strong Anti-IRA parties in Scotland making some sort of coalition with Thatcher after she realizes the futility of peace with the Irish terrorist, therefore, keeping the party united for much longer.
 
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