Tory! Tory! Tory! as it prevented Powell from taking control of the party. Heath had attempted to reduce the power of the trade unions but was eventually beaten by the strikers. Following the February 1974 election defeat former Health Minister Keith Joseph turned against Heath and his neo-Keynesian policies to become a champion of free market economics but lost his position and influence after his controversial "human stock" speech. Joseph's close friend and ally, Margaret Thatcher, put herself forward as the free market candidate in the subsequent leadership election and won a surprising victory. Jay met with Thatcher at a dinner where he
1975 Conservative Party (UK) leadership election As Chairman of the 1922 Committee, Edward du Cann managed the election. After his defeat in the first ballot Heath asked Shadow Chancellor of the Exchequer Robert Carr to "take over the functions of leader" until a new leader was elected. The first ballot had the following result: <section begin="First ballot: 4 February 1975"/> <section end="First ballot: 4 February 1975"/> As a result of the first ballot, Fraser was eliminated. Heath resigned, but another ballot was needed: <section begin="Second ballot: 11 February 1975"/> <section end="Second ballot: 11 February 1975"/> 49-year-old Thatcher became the first woman to be elected leader of