First Thatcher ministry took place. Members of the Cabinet are in bold face. First Thatcher ministry Margaret Thatcher was Prime Minister of the United Kingdom from 4 May 1979 to 28 November 1990, during which time she led a Conservative government. She was the first woman to hold that office. During her premiership, Thatcher moved to liberalise the British economy through deregulation, privatisation, and the promotion of entrepreneurialism. This article details the first government Thatcher led at the invitation of Queen Elizabeth II from 1979 to 1983. Following the vote of no confidence against the Labour government and prime minister James Callaghan on
Third Thatcher ministry European Community. On 14 November, former cabinet minister Michael Heseltine challenged Thatcher's leadership. Thatcher polled higher than him in the first round of the leadership contest, but failed to gain an outright victory in the first round of voting. Within minutes of the result being announced, Thatcher informed reporters that she intended to let her name go forward for the second ballot. However, on 22 November, before a second round of the contest could take place, Margaret Thatcher announced her resignation as Prime Minister and Leader of the Conservative Party after more than 11 years, explaining that she was resigning