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
Prime Minister of the United Kingdom senior order of chivalry, the Order of the Garter. The practice of creating a retired Prime Minister a Knight (or, in the case of Margaret Thatcher, a Lady) of the Garter (KG and LG respectively) has been fairly prevalent since the mid-nineteenth century. Upon the retirement of a Prime Minister who is Scottish, it is likely that the primarily Scottish honour of Knight of the Thistle (KT) will be used instead of the Order of the Garter, which is generally regarded as an English honour. Historically it has also been common for Prime Ministers to be granted a peerage upon