1975 Conservative Party (UK) leadership election cabinet members pledged their support for Heath including Jim Prior, Peter Carrington, Leader in the House of Lords, and Robert Carr, Shadow Chancellor. However Margaret Thatcher opted to stand, with Airey Neave as her campaign manager, as did backbencher Hugh Fraser. Even then many believed that Heath would win easily. Thatcher's support was seen as minimal, with all the Conservative daily newspapers backing Heath (although the weekly "The Spectator" backed Thatcher). As the election went on it became clear that the race was going to be much closer, as Thatcher became the clear candidate to be supported by discontented backbenchers.
Tory! Tory! Tory! that the free market is the most efficient and liberal way to organise social affairs, and that government intervention is often wasteful. They were widely dismissed until 1964, when Edward Heath championed their policy in his abolition of price controls. The Editor of "The Times", William Rees-Mogg, sent Peter Jay to the U.S. as economic correspondent where he learned of the Monetarist theories of Milton Friedman. Enoch Powell became the champion of free market economics in British politics, fighting with Heath, a more centrist politician, for control of the party: he was the second biggest loser from Heath's election win,