I'll answer - it was all bad for the long term, but necessary at the time as the country was utterly broke due to the Labour party destroying the economy until 1979.
The economy needed low taxes so that it would awaken from being almost dead. So exceptional means were needed to create short-term income, hoping that the long-term gains would eventually outweigh the long-term losses. We don't know whether this is the case - lots of new businesses were created, the present day economy was created in the 1980s from the wreckage that Labour had left behind.
We don't know what the country would now look like if Labour has ruled in the 1980s. We'd have had heavily unionised state-owned industry producing crap that nobody wanted to buy, constant strikes and blackouts, but we'd have had state-owned utilities too. But in reality the country would have gone bankrupt, so it's a future that never could have existed, given the mess that the country was in when Labour were rightly booted out.
They had to sell the family silver, just as aristocratic families are forced to do if they had a wayward generation who blew the money on tat and shut down all their means of creating an income.