History of the Conservative Party (UK) holding a leadership election to allow him to renew his mandate. In spite of his track record as Conservative party leader, which had included defeat at three out of four general elections, few both inside and out of the party expected him to be seriously challenged, let alone defeated. However, Margaret Thatcher stood against Heath and in a shock result outpolled him on the first ballot, leading him to withdraw from the contest. Thatcher then faced off four other candidates to become the first woman to lead a major British political party. Thatcher had much support from the monetarists, led
History of the Conservative Party (UK) However, by the time the 2001 general election came he concentrated on Europe, asylum seekers and tax cuts whilst declaring that only the Conservative Party could "Save the Pound". Though a master debater who would regularly trounce Tony Blair in the Commons, his leadership tenure was beset by poor publicity and stumbles. Despite a low turnout, the election resulted in a net gain of a single seat for the Conservative Party and William Hague's resignation as party leader. The 2001 leadership election was conducted under a new leadership electoral system designed by Hague. This resulted in five candidates competing for