Roy Jenkins 1983 general election, when Owen succeeded him unopposed. Jenkins was disappointed with Owen's move to the right, and his acceptance and backing of some of Thatcher's policies. At heart, Jenkins remained a Keynesian. He continued to serve as SDP Member of Parliament for Glasgow Hillhead until his defeat at the 1987 general election by the Labour candidate George Galloway, after boundary changes in 1983 had changed the character of the constituency. From 1987, Jenkins remained in politics as a member of the House of Lords as a life peer with the title Baron Jenkins of Hillhead, of Pontypool in the
Roy Jenkins in export figures. In July Jenkins was also able to announce that the size of Britain's foreign currency reserves had been increased by almost $1 billion since the beginning of the year. It was at this time that he presided over Britain's only excess of government revenue over expenditure in the period 1936-7 to 1987–8. Thanks in part to these successes there was a high expectation that the 1970 budget would be a more generous one. Jenkins, however, was cautious about the stability of Britain's recovery and decided to present a more muted and fiscally neutral budget. It is often