Neville Chamberlain government fell within months, necessitating another general election. By a margin of only 77 votes, Chamberlain narrowly defeated Labour candidate Oswald Mosley (who later led the British Union of Fascists). Believing he would lose if he stood again in Ladywood, Chamberlain arranged to be adopted for Birmingham Edgbaston, the district of the city where he was born and which was a much safer seat which he would hold for the rest of his life. The Unionists won the election, but Chamberlain declined to serve again as Chancellor, preferring his former position as Minister of Health. Within two weeks of his
Rise of Neville Chamberlain Conference, Chamberlain presented his first budget, in April 1932. The gold standard had been abandoned in the early days of the National Government; the Bank of England sought its restoration. Chamberlain, on advice from his officials, declined to restore the gold standard, realising that a devalued pound would improve the balance of trade. Otherwise, Chamberlain maintained the severe budget cuts that had been agreed to at the inception of the National Government: Chamberlain cut means-tested benefits and public sector wages, which proved to be an unpopular move. He also cut interest rates, which led to a house-building boom in the