I was indeed. I remember rubbish piled up on the streets, power cuts, and subsequent 3 day weeks, raging inflation, unemployment etc. Then came the 80's which did lift the mood.
IMHO it all started to shift during Blair's government. There seemed to be a whole move away from being accountable and responsible on an individual level towards there being some mysterious "they" who will sort everything out. This was exacerbated by the whole "everyone should have a degree" ethos. I agree that everyone should have an equal chance to strive for a degree, but something went wrong somewhere and we now have thousands of people proudly owning a degree in underwater basket weaving or similar, and expecting to earn the same as a solicitor. This has caused a consequent reduction in take up of what became regarded as menial jobs (plumbers, electricians, etc).
Couple the above with the arrival of social media, people comparing their worst day with some fictitious representation of someone else's best day, and you get depression, anxiety, and a reduction in self worth. Add into that mix the online bullying, trolling, disinformation etc and it becomes less of a surprise that so many people have mental health issues.
To your point though, I had much more respect for politicians in the 80's and early 90's. We had a strong government, with a strong opposition holding them to account. Even at age 18 (and partly due to Spitting Image), I knew who the cabinet were, and who the shadow cabinet were. It's such a revolving door these days. Whatever you thought about their respective political views, I truly believe that in a debate, Margaret Thatcher and Neil Kinnock would run rings around Rishi Sunak and Kier Starmer. They knew what they were about and both had vision and strategy. John Smith would have taken the Labour Party to power earlier than Blair I think, and would have been a far better Prime Minister.
Then you get Brexshit, the damage to the economy which will take decades to unpick, more social dissent, devisiveness bordering (and sometimes passing way into) racism and you get a country I don't actually like living in anymore.
I am not taken with Starmer, he doesn't appear to have a plan to speak of. He can't be worse than the Conservative government, but it might not be a whole load better. I do believe that he won't just recklessly spend in the way Blair did. I think Starmer is more considered. At least I hope so.
I think other countries point and laugh now. There is no envy now.
Sorry, ended up being a bit of a rant there, but I feel a bit better for it.