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 Liberal Party of Australia leadership spill resign. He refused, but called a partyroom meeting the next day. Staley moved that the leadership be declared vacant, seconded by John Bourchier, but the motion was defeated. Fraser never formally announced himself as a candidate for the leadership. On 30 January 1975, following continuing media speculation, Snedden met with Fraser and asked for a public declaration of loyalty. Fraser issued a statement that, although approved by Snedden, was widely seen as equivocating about his future plans. Over the following weeks, according to Paul Kelly, "a number of Fraser supporters established a solid and regular rapport with senior newspaper correspondents,