Hayek was a liberal and most of the stuff advocated by the IEA during the period discussed in the programme was pretty much standard liberal economics. The real shame is that, squeezed by Labour and the Tories, there was no room for a distinctive liberal voice. In the end, Thatcher pinched bits of liberal economics, but it'd be a stretch to describe her as a 'liberal'.

Hayek himself wrote a postscript to his 'Constitution of Liberty' entitled 'Why I Am Not a Conservative'."