History of the Labour Party (UK) all means of production in the British economy, and Britain's entry into the European Economic Community (EEC). Tensions between the two opposing sides were exacerbated after Attlee resigned as leader in 1955 and Gaitskell defeated Bevan in the leadership election that followed. The party was briefly revived and unified during the Suez Crisis of 1956. The Conservative party was badly damaged by the incident while Labour was rejuvenated by its opposition to the policy of prime minister Anthony Eden. But Eden was replaced by Harold Macmillan, while the economy continued to improve. In the 1959 election the Conservatives fought under
Suez Canal Company his predecessor Said. The problem was referred during 1864 to the arbitration of Napoleon III, who awarded £3,800,000 (equivalent to £ in ) to the company as compensation for the losses they would incur by the changes to the original grant which Ismail demanded. During 1875, a financial crisis forced Isma'il to sell his shares to the government of the United Kingdom for only £3,976,582 (equivalent to £ in ). The company operated the canal until its nationalization by Egyptian President Gamal Abdel Nasser in 1956, which led to the Suez Crisis. In 1962, Egypt made its final payments for