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
Denis Thatcher a Commonwealth Heads of Government Meeting, asking "So, what do you think the fuzzy wuzzies are up to?" In December 1990, following the resignation of his wife as Prime Minister, it was announced that Denis Thatcher would be created a baronet (the first such creation since 1964). The award was gazetted in February 1991, giving his title as Sir Denis Thatcher, 1st Baronet, of Scotney in the County of Kent. Thus Margaret was entitled to style herself Lady Thatcher while retaining her seat in the House of Commons; however she made it known that she preferred to be addressed as