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
Quintin Hogg, Baron Hailsham of St Marylebone the Heath government in 1974. He popularised the term 'elective dictatorship' in 1976, later writing a detailed exposition, "The Dilemma of Democracy". However, after the violent death of his second wife, he decided to return to active politics, first as a shadow minister without portfolio in the Shadow Cabinets of Edward Heath and Margaret Thatcher, then again as Lord Chancellor from 1979 to 1987 under Margaret Thatcher. Hailsham was widely considered as a traditionalist Lord Chancellor. He put great emphasis on the traditional roles of his post, sitting on the Appellate Committee of the House of Lords more frequently than