Margaret Thatcher were officially denied by William Heseltine, the Private Secretary to the Sovereign. Thatcher later wrote: "I always found the Queen's attitude towards the work of the Government absolutely correct ... stories of clashes between 'two powerful women' were just too good not to make up." Thatcher's economic policy was influenced by monetarist thinking and economists such as Milton Friedman and Alan Walters. Together with Chancellor of the Exchequer Geoffrey Howe, she lowered direct taxes on income and increased indirect taxes. She increased interest rates to slow the growth of the money supply and thereby lower inflation, introduced cash limits on
Margaret Thatcher the party. During her premiership Thatcher had the second-lowest average approval rating (40%) of any post-war Prime Minister. Since the resignation of Nigel Lawson as Chancellor in October 1989, polls consistently showed that she was less popular than her party. A self-described conviction politician, Thatcher always insisted that she did not care about her poll ratings and pointed instead to her unbeaten election record. Opinion polls in September 1990 reported that Labour had established a 14% lead over the Conservatives, and by November the Conservatives had been trailing Labour for 18 months. These ratings, together with Thatcher's combative personality and