New Delhi: Margaret Thatcher was the Prime Minister of the United Kingdom from 1979 to 1990. The famous British stateswoman and politician of the Conservative Party was the leader of the party from 1975 to 1990. In the 20th century, she was Britain’s longest-serving PM and was also the first woman to serve in that role. Her economic policies which she implemented were called Thatcherism. She was called the ‘Iron Lady’ by a Soviet journalist and it became her nickname. However, like many other great leaders, the fall of Thatcher was a teary-eyed one.
The early years of Margaret Thatcher
Born on October 13, 1925, Thatcher studied chemistry at Somerville College. She worked as a research chemist and later became a barrister. In 1959, she was elected Finchley’s Member of Parliament and she became secretary of state for education and science in the Edward Heath government. In 1975, she won the election for Conservative Party leadership against Heath and became the opposition leader. She was the first woman at the helm of a major UK political party.
Margaret Thatcher, the first female PM of the UK
Margaret Thatcher won the 1979 general election and became the PM of the UK, the first woman to hold the post. She implemented several economic policies to reverse high inflation and the struggles of Britain after the Winter of Discontent and recession. She focused on increasing individual liberty, reducing the power of trade unions and the privatisation of state-owned companies.
After a few years, her popularity reduced due to rising unemployment and recession. However, England’s win in the 1982 Falklands War and the turnaround of the economy once again made her popular and she was re-elected as the UK PM in 1983. In 1986, she oversaw the deregulation of UK financial markets which resulted in an economic boom and is known as the Big Bang.
The fall of Margaret Thatcher
Thatcher had a very low approval rating during her tenure but she said that she did not care about her poll ratings since she was unbeaten in the election. She defeated the challenge of MP Sir Anthony Meyer for the leadership of the party in December 1989. Opinion polls in September 1990 showed the Labour leading over the Conservative Party and Thatcher’s own attitude led to discontent within the party.
In July 1989, Thatcher removed Geoffrey Howe as foreign secretary. On November 1, 1990, Howe who was the last remaining member of the original 1979 cabinet of Thatcher, resigned as deputy prime minister and his resignation speech on November 13 played a key role in the downfall of Thatcher. On the next day, Michael Heseltine challenged her for the Conservative Party’s leadership. While Thatcher led on the first ballot, just before the second ballot, she withdrew after consultation with the cabinet. On November 28, after meeting the Queen, and making one final Commons speech, she left Downing Street in tears. She called her ousting a betrayal.
In the 20th century, Margaret Thatcher was Britain’s longest-serving PM and was also the first woman to serve in that role. Her economic policies which she implemented were called Thatcherism. knowledge Knowledge News, Photos and Videos on General Knowledge
