WI Butskellism survives

What if Butskellism (for those not in the know, the postwar consensus in Britain) managed to survive to the present day?
 
I don't see how the post war consensus as it was known could have. By the 1970's Britain's economy was in severe trouble and a different policy was needed. Had the form of the consensus have been more free market oriented with Labour accepting some curbs on union power and not wanting to nationalise everything in sight and therefore had Britain not experienced the regular economic crises that it did then this "modified consensus" could still be in existence. Thatcher as PM may still have happened but not Thatcherism as we know it.
 
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