I don't know about it being Thatcher's point.
She went on to say in that very same speech that one of the reasons it was important for individuals to be productive was in order to allow them to contribute to the state as a whole and those in need.
That speech was part of the aftermath of the UK having to be bailed out by the IMF. Her point was that there is not some kind of unconnected money-producing entity called "society", like some Platonic form made real. When the state offers a benefit, it comes from the productivity of real working people. And when we expect a benefit from the state, that represents the labour of our fellow citizens who have contributed.
Good wages, benefits, and the rest hadn't been fought for so that people would have to keep relying on the state to give benefits to their families, but so that people would be able to use their own wages in the way they want for their own families.
Two things strike me with this. One is that in the "socialist utopias" of the North, you bet there is a strong social pressure that everyone needs to work in order to fund the social benefits the state offers.
The other is that we're now in a position where we again have the state responsible for wealth transfers and benefits for working families, that effectively make them a kind of corporate welfare so that companies get away with paying the real value of a wage.
It's not actually very clear to me that the latter situation is better for workers, even if it is supposedly the solution of the "labour" party.