Margaret Thatcher, known as Britain’s Iron Lady, was the first and only woman to serve as leader of the Conservative Party and Prime Minister of the United Kingdom. She earned her nickname after a speech criticizing the Soviet Union in 1976. Thatcher advocated for economic reforms, limited government involvement in business, and a free market system. Her popularity declined in the 1990s, leading to her resignation as Prime Minister. She was later elevated to the House of Lords and awarded the Order of Merit and the Order of the Garter.
Sometimes referred to as Britain’s Iron Lady, Margaret Hilda Roberts was born on October 15, 1925 in Grantham, Lincolnshire, England. Entering the world of British politics at a time when women were not expected to be interested in political issues, Thatcher created a stir by not only entering politics but also maintaining a long and successful marriage. To this day, Margaret Thatcher remains the only woman in UK history to serve as both leader of the Conservative Party and Prime Minister of the United Kingdom.
Many people today are unaware that Thatcher earned the title of Iron Lady before becoming British Prime Minister. A year after becoming leader of the Conservative Party in 1975, Thatcher gave a speech in Kensington Town Hall which was highly critical of the motives of the Soviet Union, along with some of their social policies and domestic politics. Delivered on 19 January 1976, the speech was delivered in a direct, no-nonsense approach that has become a hallmark of Margaret Thatcher’s way of doing business. While Thatcher’s designation as “Iron Lady” originated with a newspaper in the Soviet Union, Margaret Thatcher eagerly embraced her nickname and it stuck with her for the rest of her career.
Dedicated to economic reforms that would help Britain out of an inflationary period, Margaret Thatcher became the country’s Prime Minister on 4 May 1979. Given the familiar nickname of Maggie by devotees, Thatcher immediately set about making reforms that would help stimulate cash flow into the country by slowing down the inflation rate. Thatcher also sought to improve the UK’s reputation on the international front and established close ties with a number of countries. Her strong political ties and support for US President Ronald Reagan created a degree of cordial relations between the two countries that had rarely existed in the past.
During her years as Prime Minister, Margaret Thatcher advocated limiting government involvement in business, a free market system and the encouragement of entrepreneurial endeavors within the country. Many of her measures won great public support, while earning Thatcher great animosity from sectors that had formally benefited from government grants and interventions. Her willingness to join the Allies in fighting in the Middle East and elsewhere was often a source of controversy among many sectors of British society.
In the 1990s, growing opposition to Margaret Thatcher’s tax policies and foreign policy created a situation where her popularity within the Conservative Party was in question. The end result was Thatcher’s decision not to pursue another term as Prime Minister, issuing a statement on 22 November 1990 which indicated that she would step down as both Prime Minister and party leader. Her departure as Prime Minister marked the end of the longest uninterrupted term in office since that of Lord Liverpool in the early 19th century.
Margaret Thatcher was elevated to the House of Lords and given a peerage as Baroness Thatcher of Kesteven in Lincolnshire in 1992. Thatcher was also awarded the Order of Merit, awarded shortly after her term as Prime Minister ended. Margaret Thatcher was also elevated to the Order of the Garter, considered one of the highest honors bestowed in Great Britain, in 1995.
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