Prime Minister of the United Kingdom retirement from the Commons, which elevates the individual to the House of Lords. Formerly, the peerage bestowed was usually an earldom, with Churchill offered a dukedom. From the 1960s onward, life peerages were preferred, although in 1984 Harold Macmillan was created Earl of Stockton. Sir Alec Douglas-Home, Harold Wilson, James Callaghan and Margaret Thatcher accepted life peerages, although Douglas-Home had previously disclaimed his hereditary title as Earl of Home. Edward Heath did not accept a peerage of any kind and nor have any of the Prime Ministers to retire since 1990; although Heath and Major were later appointed as Knights
Harold Wilson economics dons and wartime civil servants, convened to advise Prime Minister Attlee on financial matters. The others were Douglas Jay (Economic Secretary to the Treasury) and Hugh Gaitskell (Minister of Fuel and Power), both of whom soon grew to distrust him. Jay wrote of Wilson's role in the debates over whether or not to devalue sterling that “he changed sides three times within eight days and finished up facing both ways”. Wilson was given the task during his Swiss holiday of taking a letter to Cripps informing him of the decision to devalue, to which Cripps had been opposed. Wilson