Second Shadow Cabinet of Edward Heath Second Shadow Cabinet of Edward Heath The Second Shadow Cabinet of Edward Heath was created after the Conservative Party lost the February 1974 general election. It was led by the Leader of the Conservative Party Edward Heath and featured prominent Conservative politicians both past and future. Included was Heath’s successor Margaret Thatcher, the future Home Secretary William Whitelaw, and two future Foreign Secretaries, Lord Carrington and Francis Pym. For the first time in history, a leadership election was held in 1975 for the Conservative Party whilst the position was not vacant. Margaret Thatcher challenged Heath, with whom the majority of
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,