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
Margaret Thatcher become a generic descriptor for strong-willed female politicians. Thatcher became Prime Minister on 4 May 1979. Arriving at Downing Street she said, paraphrasing the misattributed Prayer of Saint Francis: Thatcher was to remain in office throughout the 1980s. For most of her premiership, she was described as the most powerful woman in the world. Thatcher was Leader of the Opposition and Prime Minister at a time of increased racial tension in Britain. Commenting on the local elections of 1977, "The Economist" noted "The Tory tide swamped the smaller parties. That specifically includes the National Front (NF), which suffered a clear