Margaret Thatcher that Foreign Secretary James Callaghan warned his fellow Labour Cabinet members in 1974 of the possibility of "a breakdown of democracy", telling them: "If I were a young man, I would emigrate." In mid-1978, the economy began to recover and opinion polls showed Labour in the lead, with a general election being expected later that year and a Labour win a serious possibility. Now Prime Minister, Callaghan surprised many by announcing on 7 September that there would be no general election that year and he would wait until 1979 before going to the polls. Thatcher reacted to this by branding
Margaret Thatcher of the Conservative Party in 1975. As Prime Minister, Thatcher received two honorary distinctions: Two weeks after her resignation, Thatcher was appointed Member of the Order of Merit (OM) by the Queen. Her husband Denis was made a hereditary baronet at the same time. As his wife, Thatcher was entitled to use the honorific style "Lady", an automatically conferred title that she declined to use. She became Lady Thatcher in her own right upon her ennoblement in the House of Lords. In the Falklands, Margaret Thatcher Day has been marked each 10 January since 1992, commemorating her first visit to