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 Cabinet ceased to exist upon her becoming Prime Minister following the 1979 general election. Thatcher announced her first Shadow Cabinet on 18 February 1975. On 15 January 1976, Thatcher reshuffled the Shadow Cabinet. Pym returned as Shadow Agriculture Minister, displacing Jopling. George Younger was dropped from the front bench, and he was replaced by Gilmour at Defence; Whitelaw, the Deputy Leader, added Gilmour's Home Affairs portfolio to his Devolution. John Biffen replaced Jenkin as Shadow Energy Secretary, and Jenkin took Health from Fowler, who was demoted to be a Shadow Transport Minister (which was not in Shadow Cabinet and was