Rise of Neville Chamberlain controversial biography of Chamberlain by Conservative Party chairman Iain Macleod defended Chamberlain's ministerial record. Macleod pointed out that Chamberlain had been a "most valiant" champion of rearmament as Chancellor as early as 1934, but that little was done. According to "Time" magazine, Macleod saw Chamberlain as a "humanitarian industrialist, <nowiki>[a]</nowiki> progressive Lord Mayor of Birmingham and a dedicated Minister of Health who was damned as a 'Tory socialist'<nowiki>[.]</nowiki> Chamberlain had worked tirelessly in the '20s and '30s for the 'noble and fascinating ideal' of fashioning a better life for Britain's workingman." The 1960s and 1970s saw a further reassessment of
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