I don't really know much about Ms. Thatcher other than that she was the prime minister of UK around this time and was rather unpopular in many circles. Do you think that the villain character's name derives from her?
Well, Mr. Smith himself answered my question tonight at a public screening in Hollywood. I asked if Thatcher's name was "politically motivated" and he replied "ABSOLUTELY!" and went on to explain how the film was renamed BLOOD CAMP THATCHER on English Video (not the original title, which indeed was always intended to be TURKEY SHOOT) which caused it to become insanely popular all over again.