First Thatcher ministry May 1979. The Winter of Discontent had seen the Labour government's popularity slump during the previous four months, and the opinion polls all pointed towards a Conservative victory. The Tories won the election with a majority of 44 seats and their leader Margaret Thatcher became Britain's first female prime minister. Thatcher inherited some of the worst economic statistics of postwar Britain. The nation was still feeling the effects of the numerous strikes during the recent Winter of Discontent. Inflation had recently topped 20%, and unemployment was in excess of 1.5 million for the first time since the 1930s. Thatcher's monetarist
Third Thatcher ministry Inflation, which the first Thatcher government had conquered by 1983, was touching 10% for the first time in eight years. Then, on 1 November 1990, came the first of a series of events which would spell the end of Margaret Thatcher's years in power. Sir Geoffrey Howe, the deputy prime minister, long resentful of being ousted as Foreign Secretary, resigned from the cabinet over its European policy. Soon afterward, in his resignation speech in the House of Commons, he publicly denounced Thatcher, having once been one of her closest allies, personally and for her hostility towards the programmes of the