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
Third Thatcher ministry to make way for a leader more likely to win the next general election. Her successor was the Chancellor of the Exchequer John Major, who was elected on 27 November 1990, and who at 47 became the youngest Conservative Prime Minister of the 20th century. <section begin="June 1987 to July 1989" /> <section begin="July 1989 to November 1990" /> Members of the Cabinet are in bold face. Third Thatcher ministry Margaret Thatcher was Prime Minister of the United Kingdom from 4 May 1979 to 28 November 1990, during which time she led a Conservative government. She was the first woman