Former Tory Chancellor Nigel Lawson dies aged 91
The former Conservative chancellor Nigel Lawson, who served in several cabinet positions under former PM Marget Thatcher in the 1980s, has died at the age of 91. He is often viewed as one of the most consequential of all post-war UK chancellors.
The former chancellor played a significant role in creating a powerful entrepreneurial environment. However, the era was also marked by increasing inequality and deindustrialisation, which caused great hardship in many communities.
Tributes have poured in from political figures, with PM Rishi Sunak describing him as an ‘inspiration’ former PM Liz Truss describing him as a “true giant of 20th Century politics” and current Chancellor Jeremy Hunt telling the BBC that Lawson “inspired all his successors, leaving the country more prosperous and enterprising.”
During his time as Chancellor, he modernised London’s financial markets, overseeing the UK financial sector’s Big Bang, which helped establish London as a major global financial centre. However, the resulting economic growth was unsustainable, and the country went into recession.
Despite this, Thatcher saw Lawson as “unassailable” and credited his stewardship of the economy with helping her win a third term.
Away from politics, Lawson had a successful career as a financial journalist and continued to write for The Telegraph and The Spectator until late in his life.
He resigned as Chancellor in 1989 after falling out with Thatcher over Europe. In 2016, Lawson became the chairman of Vote Leave. He retired from the House of Lords last December.
Lawson is survived by six children, including celebrity chef and food writer Nigella Lawson.
You may also like
- Tory MP arrested for sex offences bailed for fourth time
- Jeremy Hunt says tax cuts unlikely this year as interest rates hiked to control higher than expected inflation