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
Shadow Cabinet of Margaret Thatcher Shadow Cabinet of Margaret Thatcher Margaret Thatcher became the first female Leader of the Conservative Party and Leader of the Opposition after winning the 1975 leadership election, the first Conservative leadership election where the post was not vacant. A rule change to enable the election was largely prompted by dissatisfaction with the incumbent leader, Edward Heath, who had lost three of four general elections as leader, including two in 1974. After announcing her first Shadow Cabinet in February 1975, she reshuffled it twice: in January and November 1976. Minor subsequent changes were necessary to respond to various circumstances. Thatcher's Shadow