October 11, 1989 |
The Conservative Party of Prime Minister Margaret Thatcher, whose ratings have plummeted in opinion polls, opened its annual conference in the northern English resort of Blackpool. With Britain's grim economic situation dominating the meeting, party officials defended their beleaguered finance minister, Nigel Lawson. Party Chairman Kenneth Baker opened the session by supporting Lawson and sought to boost morale with a fierce attack on the opposition Labor Party.
October 10, 1985
Chancellor of the Exchequer Nigel Lawson promised the ruling Conservative Party that Britain will have more jobs and lower inflation by next year. Responding to critics of the government's economic policy in a speech to the party's annual conference in Blackpool, Lawson said the number of working people has risen by about 600,000 since Prime Minister Margaret Thatcher's second term began in 1983.
April 15, 1989 |
The production of Britain's economic statistics, notorious for major errors over the past year, is being reorganized, Prime Minister Margaret Thatcher said. Much information has been misleading. In the third quarter of last year, when the government was raising interest rates to cool an expanding economy, the gross domestic product figures showed a sharp fall in the value of goods and services. The reorganization will give a bigger role to an enlarged Central Statistical Office.
February 2, 1990 |
Former Chancellor of the Exchequer Nigel Lawson, whose sudden resignation threw the British government into a crisis last year, has joined the board of one of Britain's biggest banks. Lawson, who stormed out of the government in October after a row over economic policy with Prime Minister Margaret Thatcher, is becoming a non-executive director of Barclays Bank.
October 31, 1989 |
British Prime Minister Margaret Thatcher's popularity sank to the lowest level of her 10 years in power in two new polls. Only 24% of 935 voters sampled in a National Opinion Poll said they were satisfied with her performance, and 61% blamed her for last Thursday's sudden resignation of Chancellor of the Exchequer Nigel Lawson. Thatcher is lukewarm toward fully joining the European Monetary System, while Lawson supports it.
December 16, 1988 |
Britain's retail price index rose 0.5% in November, leaving annual inflation static at 6.4%, the Employment Department said today. The annual rate was unchanged from October, when inflation jumped to its highest in more than three years, largely due to higher interest rates on home loans. Domestic interest rates have risen sharply since early summer as Chancellor of the Exchequer Nigel Lawson tries to rein in an inflationary consumer spending boom.
August 23, 1989 |
Britain's balance of payments deficit in July soared to $3.25 billion, its second worst monthly figure ever, the government said today. The deficit compared to a shortfall of $2.5 billion in June and its size surprised economic analysts, who had forecast an improvement. The figure was a blow to government hopes that the trade deficit had taken a decisive downturn as a result of its policy of pushing interest rates upward to cool the economy.