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 Crisis going to war" in November 1956 as he claimed at the time as he lacked the necessary ICBMs to make good his threats. The United States also put financial pressure on the UK to end the invasion. Because the Bank of England had lost $45 million between 30 October and 2 November, and Britain's oil supply had been restricted by the closing of the Suez Canal, the British sought immediate assistance from the IMF, but it was denied by the United States. Eisenhower in fact ordered his Secretary of the Treasury, George M. Humphrey, to prepare to sell part of