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
John Smith (Chancellor of the Exchequer) John Smith (Chancellor of the Exchequer) John Smith (1656–1723) of Tedworth House, Hampshire, was an English politician who sat in the English and British House of Commons between 1678 and 1723. He served as Speaker and twice as Chancellor of the Exchequer. Smith was the fourth, but only surviving son of John Smith of Tedworth House South Tidworth, Hampshire and his wife Mary Wright, daughter of Sir Edmund Wright, alderman, of London. His sister Anne married Sir Samuel Dashwood, MP and Lord Mayor of London. He matriculated at St John's College, Oxford, on 18 May 1672, aged 16, and was