Margaret Thatcher (now Dame Margaret Thatcher) was or is a prominent free market conservative.  Her ideal economy would have been one that had as much of a free market and as little government intervention as possible.  It would also have low taxes and relatively weak labor unions.

When Thatcher came to power in England, the country had a very large welfare state and a great deal of government intervention in the economy.  During her time as Prime Minister, Thatcher worked to reduce the size of the welfare state and to do things like privatizing firms that were owned by the government.