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Resignation Of Margaret Thatcher
The 1990 Conservative Party leadership election was called on 14 November 1990 following the decision of Michael Heseltine, former defence and environment secretary, to challenge Margaret Thatcher, the incumbent Prime Minister of the United Kingdom, for leadership of the Conservative Party. In the months leading up to the election, Thatcher's position was slipping due to her increasingly divisive and confrontational approach in the United Kingdom. Her Community Charge had proven to be highly unpopular and resulted in widespread riots across the country, while her Euroscepticism had begun to become a detriment to the Conservatives. The economy, which was booming, had started to enter the early stages of a recession due to high inflation. The tipping point came in October when Thatcher infamously refused the European Community's plans for further integration, prompting her longest serving minister Geoffrey Howe to resign. Immediately following his resignation, Heseltine challe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Major
Sir John Major (born 29 March 1943) is a British former politician who served as Prime Minister of the United Kingdom and Leader of the Conservative Party (UK), Leader of the Conservative Party from 1990 to 1997, and as Member of Parliament (United Kingdom), Member of Parliament (MP) for Huntingdon (UK Parliament constituency), Huntingdon, formerly Huntingdonshire (UK Parliament constituency), Huntingdonshire, from 1979 to 2001. Prior to becoming prime minister, he served as Foreign Secretary and Chancellor of the Exchequer in the third Thatcher government. Having left school a day before turning sixteen, Major was elected to Lambeth London Borough Council in 1968, and a decade later to parliament, where he held several junior government positions, including Parliamentary Private Secretary and Whip (politics), assistant whip. Following Margaret Thatcher's resignation in 1990, Major stood in the 1990 Conservative Party leadership election to replace her and emerged victorious, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Exchange Rate Mechanism
The European Exchange Rate Mechanism (ERM II) is a system introduced by the European Economic Community on 1 January 1999 alongside the introduction of a single currency, the euro (replacing ERM 1 and the euro's predecessor, the ECU) as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe. After the adoption of the euro, policy changed to linking currencies of EU countries outside the eurozone to the euro (having the common currency as a central point). The goal was to improve the stability of those currencies, as well as to gain an evaluation mechanism for potential eurozone members. As of July 2021, three currencies participate in ERM II: the Danish krone, the Croatian kuna and the Bulgarian lev. Intent and operation of the ERM II The ERM is based on the concept of fixed currency exchange rate margins, but with exchange rates variable within those margins. This is also known as a semi-pegged system. Be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sir Anthony Meyer, 3rd Baronet
Sir Anthony John Charles Meyer, 3rd Baronet (27 October 1920 – 24 December 2004) was a British soldier, diplomat, and Conservative and later Liberal Democrat politician, best known for standing against Margaret Thatcher for the party leadership in 1989. In spite of his staunch conservative views on economic policy, his passionate support of increased British integration into the European Union led to him becoming increasingly marginalised in Thatcher's Conservative Party. After being deselected as a Conservative parliamentary candidate for the 1992 general election, Meyer became policy director of the European Movement, and in 1998 he joined the Pro-Euro Conservative Party. After that disbanded in 2001, he became a member of the Liberal Democrats. Early life Meyer was the son of Marjorie Amy Georgina (née Seeley) and Sir Frank Cecil Meyer. His father was vice-chairman of the De Beers diamond company, and from 1924 to 1929 he was Conservative Member of Parliament for Grea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Backbencher
In Westminster and other parliamentary systems, a backbencher is a member of parliament (MP) or a legislator who occupies no governmental office and is not a frontbench spokesperson in the Opposition, being instead simply a member of the "rank and file". The term dates from 1855. The term derives from the fact that they sit physically behind the frontbench in the House of Commons. A backbencher may be a new parliamentary member yet to receive high office, a senior figure dropped from government, someone who for whatever reason is not chosen to sit in the government or an opposition spokesperson (such as a shadow cabinet if one exists), or someone who prefers to be a background influence, not in the spotlight. By extension, those who are not reliable supporters of all of their party's goals and policies and have resigned or been forced to resign may be relegated to the back benches. For example, in British political events, Clive Lewis became a backbencher after resigning ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1975 Conservative Party Leadership Election
The 1975 Conservative Party leadership election was held in February 1975. The party's sitting MPs voted Margaret Thatcher as party leader on the second ballot. Incumbent leader Edward Heath stood aside after the first ballot, in which he unexpectedly finished behind Thatcher. The Conservatives were the official Opposition to the Labour government, so Thatcher also became Leader of the Opposition. Background Edward Heath, leader of the Conservative Party and Prime Minister had called and unexpectedly lost the February 1974 general election. Although the Labour Party were able only to form a minority government, the following October 1974 general election saw them obtain a three-seat majority, and it was widely expected that Heath (who had led the party for the previous decade but lost three of the four general elections he contested) would not be leader of the party for much longer. At that time the rules for electing a party leader only applied when the post was vacant an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1989 Conservative Party Leadership Election
The 1989 Conservative Party leadership election took place on 5 December 1989. The incumbent Margaret Thatcher was opposed by the little-known 69-year-old backbencher MP Sir Anthony Meyer. It was the Conservative Party's first leadership election for nearly 15 years, when Thatcher had taken the party leadership. Whilst Thatcher comfortably won with 90% of the vote, the vote showed 60 MPs who didn't vote for her either by choosing Meyer, spoiling the ballots or abstaining. This can be contributed to her increasingly Eurosceptic views on European integration in the late 80s, despite the Conservatives still being pro Europe at the time. The outcome would ultimately undermine Thatcher as her leadership started to come into question. The following year would see Thatcher once again challenged and eventually resigning following further unrest and discontent with her party. Background During 1989 the Conservative government led by Thatcher had run into difficulties. In June Lab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alan Walters
Sir Alan Arthur Walters (17 June 1926 – 3 January 2009) was a British economist who was best known as the Chief Economic Adviser to Prime Minister Margaret Thatcher from 1981 to 1983 and (after his return from the United States) again for five months in 1989. Early life Walters was born in Leicester, and his father was a Communist and a grocer who sold goods from a van. He failed his 11-Plus and attended Alderman Newton's School in Leicester, leaving at fifteen to work as a machine operator in a shoe factory. During World War II, he was called up and joined the British Army as a private. Academic career Walters studied statistics at University College Leicester and then went to Nuffield College, Oxford, where he took an MA in economics. On leaving Nuffield in 1951, he took up a post to teach statistics at Birmingham University, later becoming professor of econometrics and statistics there in the early 1960s. He was one of the first British economists to argue that mone ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Mark
The Deutsche Mark (; English: ''German mark''), abbreviated "DM" or "D-Mark" (), was the official currency of West Germany from 1948 until 1990 and later the unified Germany from 1990 until the adoption of the euro in 2002. In English, it was typically called the "Deutschmark" (). One Deutsche Mark was divided into 100 pfennigs. It was first issued under Allied occupation in 1948 to replace the Reichsmark and served as the Federal Republic of Germany's official currency from its founding the following year. On 31 December 1998, the Council of the European Union fixed the irrevocable exchange rate, effective 1 January 1999, for German mark to euros as DM 1.95583 = €1. In 1999, the Deutsche Mark was replaced by the euro; its coins and banknotes remained in circulation, defined in terms of euros, until the introduction of euro notes and coins on 1 January 2002. The Deutsche Mark ceased to be legal tender immediately upon the introduction of the euro—in contrast to the o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. As prices do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose. The employment cost index is also used for wages in the United States. Most economists agree that high levels of inflation as well as hyperinflation—which have severely disruptive effects on the real economy—are caused by persistent excessive growth in the money supply. Views on low to moderate rates of inflation are more varied. Low or moderate inflation may be attri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1987 United Kingdom General Election
The 1987 United Kingdom general election was held on Thursday, 11 June 1987, to elect 650 members to the House of Commons. The election was the third consecutive general election victory for the Conservative Party, and second landslide under the leadership of Margaret Thatcher, who became the first Prime Minister since the Earl of Liverpool in 1820 to lead a party into three successive electoral victories. The Conservatives ran a campaign focusing on lower taxes, a strong economy and strong defence. They also emphasised that unemployment had just fallen below the 3 million mark for the first time since 1981, and inflation was standing at 4%, its lowest level since the 1960s. National newspapers also continued to largely back the Conservative Government, particularly '' The Sun'', which ran anti-Labour articles with headlines such as "Why I'm backing Kinnock, by Stalin". The Labour Party, led by Neil Kinnock following Michael Foot's resignation in the aftermath of their l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deputy Prime Minister Of The United Kingdom
The deputy prime minister of the United Kingdom is a minister of the Crown and a member of the British Cabinet. The office is not always in use, and prime ministers may use other offices, such as First Secretary of State, to indicate the seniority. The office is currently held by Dominic Raab who has served since October 2022 under Rishi Sunak, having previously served as deputy under Boris Johnson. Constitutional position The office of deputy prime minister carries no salary and its holder has no right to automatic succession. One classical argument made against appointing a minister to the office is that it might restrict the monarch's royal prerogative to choose a Prime Minister. However, Rodney Brazier has more recently written that there is a strong constitutional case for every Prime Minister to appoint a Deputy Prime Minister, to ensure an effective temporary transfer of power in most circumstances. Similarly, Vernon Bogdanor has said that that argument holds little ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign, Commonwealth And Development Office
The Foreign, Commonwealth & Development Office (FCDO) is a department of the Government of the United Kingdom. Equivalent to other countries' ministries of foreign affairs, it was created on 2 September 2020 through the merger of the Foreign & Commonwealth Office (FCO) and the Department for International Development (DFID). The FCO, itself created in 1968 by the merger of the Foreign Office (FO) and the Commonwealth Office, was responsible for protecting and promoting British interests worldwide. The head of the FCDO is the Secretary of State for Foreign, Commonwealth and Development Affairs, commonly abbreviated to "Foreign Secretary". This is regarded as one of the four most prestigious positions in the Cabinet – the Great Offices of State – alongside those of Prime Minister, Chancellor of the Exchequer and Home Secretary. James Cleverly was appointed Foreign Secretary on 6 September 2022. The FCDO is managed day-to-day by a civil servant, the permanent under-secret ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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