Knowledge (XXG)

Norman Lamont

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inflation (as measured by the 12-month increase in the Retail Prices Index) fell to 3.3% at the beginning of 1988. However, controlling inflation through the targeting of the growth of the domestic money supply, as proposed in that manifesto, turned out to be more problematic than its authors had envisaged and during his time as Chancellor, Lawson had increasingly been drawn instead to targeting the exchange rate to provide an external monetary anchor. From its low point in February 1988, inflation rose with apparent inexorability: of the 31 months until it peaked at 10.9% in October 1990, there were only four months when inflation fell. In response, interest rates were progressively increased, doubling from 7.4% in June 1988 to 15% in October 1988, being cut by one point to 14% when the pound entered the ERM, the level of interest rates Lamont inherited as chancellor. As a result, the economy began to slow, contracting by 1.1% in the third quarter of 1990 and shrinking a further 0.7% in the final quarter of the year. Thus Lamont's period as Chancellor started with inflation at its highest level since 1982 and the economy in recession.
917:, when Lamont was forced to withdraw the pound from the ERM despite assuring the public that he would not do so just a week earlier. He faced fierce criticism at the time for his apparent insouciance in the face of the collapse of the stated central plank of his economic policy. Later that month, at a press conference in the garden of the British embassy in Washington, DC in response to a question as to why he appeared so cheerful, Lamont commented that it was a beautiful morning, adding, "My wife said she heard me singing in the bath this morning," a response which led to the story that he was singing in the bath with happiness at leaving the ERM. After Major left office and published his memoirs, Lamont publicly denied Major's version of events, claiming that Major had effectively opted out of his responsibilities and left Lamont to carry the can for that day's actions. On the evening of Black Wednesday and for days after, Major contemplated resigning, drafting a statement to that effect, but wrote Lamont a note instructing him not to resign. 973:. He set a target range for inflation excluding mortgage interest rate payments of 1–4%, falling into the lower part of the range by the end of the Parliament. In assessing progress toward meeting the inflation target, there was a target for the growth of narrow money (M0) and monitoring ranges for the growth of broad money (M4). Decisions on interest rates would also take account of house and asset price inflation and the exchange rate. Transparency and market credibility would be enhanced by the publication of a monthly monetary assessment and the Bank of England was asked to produce a quarterly inflation report. These innovations marked a decisive break with the past and a necessary step toward central bank independence. Inflation targeting was the basis on which the Bank of England was made independent by the Blair government in 1997, the Bank's 4811: 4559: 981:
to Alan Budd, the Treasury's Chief Economic Adviser during the period, the important step of central bank independence could only have been successful once monetary stability had been achieved; "In 1997 the Bank of England was not asked to succeed where politicians had failed; it was asked to maintain the rate of inflation, namely 2.5%, that it inherited." In Budd's view, the essential elements of the new framework and its success in achieving low and stable inflation were the establishment of an inflation target and the institution of monthly meetings with the governor of the Bank of England to discuss interest rates. The new framework, according to Budd, "worked extraordinarily well." "Credit must be given to those, principally Norman Lamont, who designed and implemented it."
4216: 1104:. In the 1992 budget, his proposal to advance to a 20% basic rate of income tax through a combination of a narrow initial band, a cut in tax on deposit interest and curtailment of tax allowances was hailed as an elegant way of combining populism with progressivism, though events were later to lend support to Nigel Lawson's view that this approach was strategically inept. His final budget in 1993 was more sympathetically received by financial specialists than John Major's 1990 budget or Kenneth Clarke's budget of November 1993. Lamont attributes the large public sector borrowing requirement (i.e. fiscal deficit) of these years to the depth of the recession triggered by his inability to cut interest rates sooner within the ERM. 928:, argued that "the decision to join the ERM two years ago in the circumstances; that, having joined, we were right to endeavour to stick it out; and that, in the circumstances which evolved, we were right to withdraw." Lamont's view expressed in his memoirs was more nuanced: without the discipline of the ERM, the Major government would have given up on the fight against inflation before Black Wednesday; ERM membership delivered a sharp break in Britain's inflation performance; the judgment of the markets that the higher rates needed to maintain Britain's membership was undoubtedly correct; "the ERM was a tool that broke in my hands when it had accomplished all that it could usefully do." Sir 56: 811:
would have given up the flexibility of the exchange rate." In public, Lamont justified the decision to join the ERM in terms of the government's counter-inflation strategy. In the House of Commons debate shortly after the pound joined the ERM, he argued that under a regime of floating exchange rates, the consequences of depreciating the currency had been short-lived in terms of output and competitiveness, "but have been lasting in terms of inflation. That is one of the reasons why the Government concluded that it would be right to join the ERM."
1162:: "It has recently been said that the option of leaving the Community was 'unthinkable.' I believe that this attitude is rather simplistic." He stopped short of arguing Britain should unilaterally withdraw from the European Union "today," but warned: "the issue may well return to the political agenda." Instead, he outlined an alternative to membership of a federal EU. "This means looking at all the options ranging from membership of an outer tier to participating solely in the 1122:, writing 12 years later on the factors behind the subsequent performance of the British economy, Lamont had introduced path-breaking macro-economic reforms including inflation targeting and the first steps towards an independent Bank of England and had begun a programme of fiscal consolidation, which transformed the public finances. "These macro economic reforms, along with the Thatcher economic reforms of the 1980s, effectively transformed the British economy." 3995: 1007:, whose opposition to the ERM as Mrs Thatcher's economic adviser triggered Nigel Lawson's resignation as chancellor, wrote on the buoyant state of the British economy in 2001 that "all the difficult and correct decisions that produced this happy state of affairs were taken and implemented by Norman Lamont, who thus showed himself, in his Mark 2 post ERM version, to be not only the most effective but also the bravest Chancellor since the War." 1003:'s economic adviser from 1997 to 2003, wrote that Lamont was "rightly praised" for putting in place the post-ERM framework, that stage of Lamont's career being "due for rerating since, in addition to designing a proper framework for monetary policy (later consolidated by Bank of England independence in 1997), he also took most of the tough decisions on spending and tax to put the public finances on the road to recovery." Sir 885:, who told Lamont: "I can't see what you are so worked up about. We are in the ERM. What difference does it make if it is in the Treaty?" Lamont decided to ignore their objections. At the next negotiating meeting on the treaty, he told his fellow European finance ministers that Britain would not accept membership of the ERM as a treaty obligation. As a result, the meeting agreed to remove it. 802:, winning the most votes of any political party in British electoral history, inflation fell to 4.3%, falling to 1.3% a year later. However the economy continued to contract until the third quarter of 1991. After economic growth resumed, the economy grew rapidly and by the third quarter of 1993, GDP was greater than the pre-recession peak in the second quarter of 1990. 1151:. "When we come to examine the advantages of our membership today of the European Union they are remarkably elusive. As a former Chancellor, I can only say that I cannot pinpoint a single concrete advantage that unambiguously comes to this country because of our membership of the European Union," Lamont told the group. He rejected the argument made by 708:, is a director of and a consultant to various companies in the financial sector. He is a director of the hedge fund company RAB Capital, Balli Group plc (commodities trading house), and he is an advisor to Rotch Property Group. He is also a director of a number of investment funds. In December 2008 he joined the board of 1274:(Lamont's political adviser around the time of Black Wednesday) lacked policies. In late 2008, Cameron asked Lamont, together with fellow former chancellors Geoffrey Howe, Nigel Lawson and Kenneth Clarke, to provide him with strategic political and economic advice as Britain's banking and fiscal position worsened. 1155:, the foreign secretary, who had claimed that the debate in Europe was turning Britain's way. "We deceive the British people and we deceive ourselves if we claim that we are winning the argument in Europe ... There is not a shred of evidence at Maastricht or since then that anyone accepts our view of Europe." 2623:"Fifteen months ago, in the wake of Pinochet's arrest, the main chant of Norman Lamont's bizarre chorus was that Chilean democracy was so fragile that an act of justice of this kind would bring it crashing to the ground. Fifteen months on, those opinions seem even more contemptible than they did at the time" 905:
Within the constraints of the ERM, sterling interest rates were cut seven times in 1991, falling from 14% to 10.5% in September, with inflation halving from 9.0% to 4.5% over the course of the year, leaving real interest rates just 0.5% lower. The scope for swifter cuts in interest rates was squeezed
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By the time Lamont was appointed Chancellor, the Conservative government's principal economic objective was to regain control of inflation. The Thatcher government had been elected in 1979 on a manifesto that had listed restoration of sound money as its first priority. Having peaked at 21.9% in 1980,
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Lamont's second task was to reduce government borrowing, which was rising sharply because of the twofold impact of the ERM on the public finances. The loss of output had reduced tax revenues and increased public spending as unemployment rose. The sharp falls in inflation further reduced tax revenues
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The new framework enabled interest rates to be cut from the 10% that they had been within the ERM to 6% by January 1993. Inflation continued to fall. In June 1993, the first month after Lamont had left the Treasury, Britain recorded its lowest monthly rate of inflation since February 1964. According
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Lamont replaced Major as Chancellor in Major's new Cabinet, thereby inheriting Major's exchange rate policy. In his memoirs, Lamont recalls a senior Treasury civil servant answering his question on why Britain had joined the ERM by replying, "It's politics," to which Lamont replied, "I don't think I
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dismissed the speech as "dud, nasty, ludicrous and silly". Major and Lamont agree that Lamont had offered his resignation immediately after Black Wednesday and that Major pressed him to remain in office. Lamont came to the view that Major had sought his survival in office as a firebreak against the
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for monetary union. Newly appointed as Chancellor, Lamont therefore supported Major's idea of Britain negotiating an opt-out from the single currency. Negotiations on the economic aspects of the proposed treaty began in earnest at the end of 1990 with monthly meetings of European finance ministers.
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Three weeks after the government's massive loss in the by-election, on 27 May 1993, Lamont was sacked (technically resigning from the government because he declined a demotion to become Secretary of State for the Environment), throwing (by his own account) Major's letter of regret at his departure
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In a minute to the Cabinet's Defence and Overseas Policy committee the following month, Lamont set out his three objectives for the negotiations: first, to ensure that Britain did not have to join the single currency; second, to ensure the opt-out was legally water-tight; and third, to ensure that
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that history was likely to record him as one of the better Chancellors, citing his structural reforms of taxation, his determination to give priority to securing and maintaining low inflation and the delayed tax increases in his final budget. "He leaves behind an economy with a faster growth rate
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During the autumn of 1992, Lamont became a press target in a string of largely fabricated stories: that he had not paid his hotel bill for "champagne and large breakfasts" from the Conservative Party Conference (in fact his bill had been forwarded on for settlement); that he was in arrears on his
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for 1993-94 of £50bn, equivalent to 8% of GDP. In terms of the Public Sector Net Cash Requirement, the definition currently in use to measure the UK government deficit, the actual deficit for 1993–94 of 6.9% was the highest since 1975–76 at 9.2% but just over half the 13.3% deficit projected for
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On 16 May 1991, Lamont stated in parliament that "Rising unemployment and the recession have been the price that we have had to pay to get inflation down. That price is well worth paying." The remark is regularly, but not always approvingly, recalled by commentators and other politicians. Seven
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To reduce government borrowing, the March 1993 budget announced a rising wedge of tax increases – £0.5bn in the first year, £6.7bn in the second, rising to £10.3bn in the third, the aim being to give markets confidence that government borrowing was under control without damaging the recovery.
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The decision to join the ERM was announced on Friday 5 October 1990, the last trading day before the week of the Conservative party conference. Shortly afterwards he successfully managed Major's election campaign to succeed Margaret Thatcher as party leader and Prime Minister. In her memoirs,
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bill (true); that in June 1991 he had used taxpayers' money to handle the fall-out from press stories concerning a sex therapist, who was using a flat he owned (the Treasury contributed £4,700 of the £23,000 bill which had been formally approved by the Head of the Civil Service and the Prime
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in 1994, he argued that withdrawal from the European Union was an option that should be restored to the range of serious possibilities, d'Ancona, who attended the meeting, wrote. Later that year at the Conservative Party conference in Bournemouth, Lamont addressed a fringe meeting of the
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unopened into the wastepaper basket, and giving a resignation speech in the House of Commons on 9 June, that made clear his feeling that he had been unfairly treated, saying that the government "gives the impression of being in office but not in power"; the then Party Chairman
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whether he agreed with his predecessor's view on the depth and duration of the recession and not wishing to contradict Major, Lamont replied that "there are reasons why one could believe that it will be relatively short-lived and relatively shallow." In October 1991, based on
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wrote that someone must have dared to make the initial leap to retrieve the "frozen thesis" from its glacial prison. "In the case of Brexit, it was Norman Lamont, the former chancellor of the exchequer, who dragged the idea back from the snowy wastes."
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by an event that few had anticipated when Britain joined the ERM: based on OECD indices of consumer prices, inflation in Germany, which had been 2.7% in 1990, rose to 5.1% in 1992, whilst in Britain inflation fell from 7.0% to 4.3%. In response, the
940:, in an economic assessment of Britain's membership of the ERM, has written, "although it was certainly a political disaster, the case can be made that it was an economic triumph and marked the turning point in our macro-economic performance." 1548: 868:. It had been Thatcher's opposition to EMU which triggered the end of her premiership. Like Thatcher, Lamont was a long-standing opponent of EMU and the European single currency. In his memoirs, Lamont wrote that he was "horrified" when 789:
as Thatcher's successor, phoning Lawson up to remind him of his caustic remarks made about Heseltine's economic policies. Lamont eventually slammed the phone down on Lawson in temper, though he later wrote to Lawson to offer an apology.
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compared to previous forecasts at the same time as increasing public spending after inflation, because public spending is planned in cash terms which becomes worth more in real terms if inflation falls. The March 1993 budget forecast a
897:, decided that the meeting should review the British opt-out line-by-line, Lamont said the text was not negotiable. After Kok persevered, Lamont walked out of the meeting. In his absence, the protocol was endorsed without amendment. 1258:
that Lamont and John Major had held up the release of papers concerning Black Wednesday under the Freedom of Information Act. The two wrote to the paper to deny the reports. Later it emerged that the source of the story had been
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Despite departing under a cloud, Lamont defends his budget record to this day. The 1991 budget, in which he seized the opportunity presented by Thatcher's resignation to restrict mortgage interest tax relief to the basic rate of
712:, an online behavioural advertising company, and he is a non-executive director of Balli Group PLC and the Honorary President of the British Romanian Chamber of Commerce, and Chairman of the British Iranian Chamber of Commerce. 1461: 881:
during the period in the run-up to the single currency, there should be no binding obligations on Britain. In meeting the third of these, Lamont had to overcome the resistance of the prime minister and the foreign secretary,
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editorialised that Lamont's budget had been so badly received that he was out of his job within two months, "but it fixed the public finances and set up the prosperity of the 1990s and beyond" and Derek Scott,
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Lamont decided that the best way of securing the first two of his negotiating objectives was for Britain to draw up a protocol listing those parts of the treaty from which Britain would be exempted. When
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At an Intergovernmental Conference held in Rome on 15 December 1990, Lamont declared, "I remain unconvinced that the potential benefits of a single currency are as great as its supporters allege."
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by-election in May 1993, Lamont was asked at a press conference whether he most regretted claiming to see "the green shoots of recovery" or "singing in his bath". He replied by quoting the
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Thatcher listed Lamont along with six other Cabinet ministers as a potential successor to her. During the leadership election, Lamont clashed angrily in private with Lawson who preferred
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show the trough of the recession occurring in the fourth quarter of 1991, with sustained growth resuming in the third quarter of 1992, when GDP grew 0.4% compared to the second quarter.
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Minister; there was never any suggestion that he had ever met her); and that he had called at a newsagent in a seedy area of Paddington late at night to purchase champagne and cheap "
781:(ERM) at a central parity of 2.95 Deutschmarks to the Pound, although neither he nor any other Cabinet ministers were involved or informed about the decision before it had been made. 3352: 3067: 1027:", a dry response which raised a laugh at the press conference but which played poorly when quoted later on the television that evening and afterwards. When called to defend him on 1430: 920:
Major's verdict on the ERM was that it was the medicine that cured Britain of inflation; "it hurt but it worked." Speaking a few days after Black Wednesday, the Governor of the
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In June 2007, Lamont became honorary patron of the Oxford University History Society, one of the university's largest societies, and he was, from 1996 to 2008, chairman of
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In the period after his resignation, Lamont became the first leading politician to raise the prospect of Britain withdrawing from the European Union. Shortly before the
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Despite the Conservatives' surprise victory in the April 1992 general election, for these reasons, the ERM policy proved increasingly unsustainable and collapsed on
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which can otherwise lead to distortions in the headline inflation figure, as a rise in interest rates to bring inflation down will, in the short term, lead to an
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in which he envisaged Britain's withdrawal from the European Union, and was talked of as a potential leadership challenger to John Major; in the event, it was
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record. Lamont joined with Margaret Thatcher in defending Pinochet, calling him a "good and brave and honourable soldier". His stance was highly criticised.
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increased its discount rate from 6.0% in 1990 to 8.75% in July 1992, creating the conditions for the turbulence the ERM was to experience later that autumn.
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in Yorkshire. The move was seen as an attempt to parachute in an outsider, with Lamont seeming like an opportunist next to the Liberal Democrat candidate,
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Although the budget provoked a fierce reaction in some parts of the press, its reputation improved with the passage of time. After the 2009 budget, the
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Office for National Statistics, YBEZ Gross domestic product index: CVM: Seasonally adjusted, Constant 2003 prices, Updated on 25 February 2009. ;
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Office for National Statistics, YBEZ Gross domestic product index: CVM: Seasonally adjusted, Constant 2003 prices, Updated on 25 February 2009.
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said Lamont provided him with "counsel", and "advice" and was "a pillar of strength" while he unsuccessfully negotiated Debt relief with the
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for a total of 14 years, in the Departments of Energy, Industry, Defence and the Treasury. In 1986, he moved to the Treasury, first as
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visited Britain to obtain medical treatment. This prompted a debate about whether he should be arrested and put on trial over his
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In February 2015, Lamont resigned as a director of Phorm Corporation Limited, an internet personalisation technology company.
1178:, Lamont's constituency of Kingston upon Thames was split up. The northern parts were merged with Richmond and Barnes to form 3787: 3590: 1361: 674: 602: 585: 45: 20: 4941: 4936: 4931: 4926: 4921: 4911: 4961: 4901: 3707: 3692: 3252: 2126: 1143: 1079: 1599: 4653: 4583: 4353: 4035: 3107: 2035: 394: 24: 1383: 4825: 4543: 4333: 4020: 3486: 3428: 3222: 3076: 2997: 2978: 1751: 1195: 1118:
than that of any other of the main G7 countries and an underlying rate of inflation lower than in most." According to
861: 618: 70: 2686: 953:" cigarettes. The last story turned out to have been partly invented (Lamont only purchased three bottles of wine). 1577: 4233: 1281:, a secret anti-Communist group which meets bi-annually in Washington, DC. In 2008, he became the president of the 1671: 1323: 773:(succeeding John Major in the latter job on Major's promotion to Foreign Secretary in July 1989) under Chancellor 4976: 4760: 4599: 4180: 3202: 2770: 1604: 966: 824: 3177: 4200: 3516: 3506: 3496: 3262: 1282: 1058:
In the following years, Lamont became a fierce critic of the Major government. He is now regarded as a staunch
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Following Britain's exit from the ERM, Lamont had two major tasks: to replace the ERM with a new framework for
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ONS, Gross Domestic Product: chained volume measures: Seasonally adjusted, ABMI retrieved on 13 April 2012.
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On succeeding Thatcher, the Major government had to decide its position on the negotiations on European
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of economic spring are appearing once again." The comment was widely criticised as premature. However,
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business surveys, he said "what we are seeing is the return of that vital ingredient – confidence. The
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http://www2.warwick.ac.uk/fac/soc/economics/staff/faculty/jennifersmith/policy/1inflationtargeting.pdf
1937: 4916: 4856: 3580: 3152: 3137: 36: 3187: 2744: 1062:. In March 1995 he voted with the Labour Party in a vote on Europe, and later that year he authored 3782: 3762: 3501: 3491: 3172: 2886: 1207: 1135: 1024: 970: 950: 460: 2597:"His theme in all his interviews was that Pinochet, who was never elected, was much preferable to 4623: 4498: 3827: 3747: 3732: 3722: 3456: 3444: 3434: 3406: 3162: 2525: 1016: 945: 795: 1800: 2717: 1844: 4673: 4363: 4266: 4025: 3842: 3772: 3652: 3642: 3627: 3481: 3157: 2835: 2653: 2624: 2602: 2248: 1819: 1691: 1264: 1231: 865: 786: 758: 630: 363: 309: 255: 201: 147: 2647: 1267:
following publication of emails indicating a plan to smear leading Conservative politicians.
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who challenged for the leadership. Lamont supported Redwood's campaign, which was managed by
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Norman Lamont, "Speech to the Selsdon Group", Conservative Party Conference, 12 October 1994
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months before Lamont made the statement, inflation (as measured by the annual change in the
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Lamont stood as a candidate for Member of Parliament in the June 1970 general election for
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ONS, All items retail prices index (seasonally adjusted), CHAW retrieved on 13 April 2012.
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caused further merriment by claiming that Lamont could do an excellent impersonation of a
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in October 1992, Lamont set out a new basis for the conduct of monetary policy centred on
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Derek Scott in "Black Wednesday", Institute of Economic Affairs (2005), p. 35.
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Economic and Fiscal Strategy Report and Financial Statement and Budget Report
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Economic and Fiscal Strategy Report and Financial Statement and Budget Report
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Department of the Official Report (Hansard), House of Commons, Westminster.
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http://www.phorm.com/sites/default/files/Board_Changes_25-Feb-2015_0.pdf
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http://www.phorm.com/sites/default/files/Board_Changes_25-Feb-2015_0.pdf
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being made accountable for achieving the government's inflation target.
2857: 890: 654: 650: 642: 509: 2718:"Cameron is about to discover his big problem: the Conservative party" 649:, on 8 May 1942, where his father Daniel Lamont OBE was the islands' 4225: 2601:, the prime minister he toppled and killed, who was elected, twice. 1938:
http://www.statistics.gov.uk/downloads/theme_economy/RP04.pdfInsert
1206:
won the seat. He was not recommended for a peerage in John Major's
1158:
Lamont implicitly challenged the view expressed by John Major, the
709: 2462:
Pilkington, Colin (1995). "Britain in the European Union today".
1545:"Norman Lamont, pillar of the British-Iranian business community" 1354:"Parliamentary career for Lord Lamont of Lerwick - MPs and Lords" 4568: 4572: 4229: 3965: 3049: 2208:
A summary of the framework for monetary policy can be found at
1094:
by two percentage points, was greeted by positive coverage in
1960: 1958: 1741:
Hansard, House of Commons debates, 23 October 1990, col 278.
1454:"The Crisis: Would the real Norman Lamont please stand up?" 1298:
during his six months as Greek Finance Minister in 2015.
1270:
In October 2006, he complained that the new party leader
1313:
served as Minister of State for Industry until June 1983
1132:
2016 United Kingdom European Union membership referendum
2479:"Brexit: how a fringe idea took hold of the Tory party" 2138:
1992/93 HC 383 (Select Committee on Members Interests).
1222:, of Lerwick in the Shetland Islands, on 24 July 1998. 4877:
Conservative Party (UK) MPs for English constituencies
2870:
House of Lords minutes of proceedings, 19 October 1998
2868:
Announcement of his introduction at the House of Lords
1839: 1837: 1835: 1574:"British-Iranian Chamber of Commerce - The BICC Board" 598:
Norman Stewart Hughson Lamont, Baron Lamont of Lerwick
1384:"Co-Chairmen - Political Advisory Board - Supporters" 606:(born 8 May 1942) is a British politician and former 1788: 1786: 872:
in 1972 announced Britain that it was accepting the
4818: 4606: 3547: 3351: 3083: 1245:He attempted to be selected as a candidate for the 1107:The day after his dismissal from the Treasury, Sir 1050:criticism of the ERM policy rebounding on himself. 823:Asked at his first appearance as chancellor at the 579: 569: 561: 530: 520: 489: 484: 466: 454: 431: 393: 381: 369: 357: 339: 327: 315: 303: 285: 273: 261: 249: 231: 219: 207: 195: 177: 165: 153: 141: 123: 111: 99: 87: 69: 34: 4892:Members of the Privy Council of the United Kingdom 4867:Chancellors of the Exchequer of the United Kingdom 2771:"House of Lords – Economic Affairs – Sixth Report" 2149: 1166:. One day it may mean contemplating withdrawal." 341:Parliamentary Under-Secretary of State for Energy 2308:, The Stationery Office (April 2009), Table C16. 2186:, Little, Brown and Company (1999), pp. 313-316. 2112:, Little, Brown and Company (1999), pp. 388–390. 1994:, Little, Brown and Company (1999), pp. 131–132. 1901:, Little, Brown and Company (1999), pp. 140–141. 1483:William Keegan & Alex Brett (22 July 2007). 1182:, and the southern parts merged with the larger 2343:"A shoddy budget from a discredited government" 2320:, The Stationery Office (April 2009), Table C2. 1285:, Britain's oldest economics-based think tank. 704:Lamont currently, in addition to his role as a 4897:People educated at Loretto School, Musselburgh 2817:, Vintage Penguin Random House (2018), p. 123. 2284:, Institute of Economic Affairs (2005), p. 31. 2271:, Institute of Economic Affairs (2005), p. 30. 757:Lamont served in successive governments under 697:Before entering Parliament, Lamont worked for 653:. In 1953, he moved south with his parents to 4584: 4241: 3977: 3061: 741:. Two years later, on 4 May 1972, Lamont won 679:Cambridge University Conservative Association 299:14 September 1981 – 2 September 1985 8: 2863:contributions in Parliament by Norman Lamont 2649:British Politics and European Elections 1999 1696:: CS1 maint: multiple names: authors list ( 1547:. intelligenceonline.com. 17 February 2016. 2409:, Little, Brown and Company (1999), p. 383. 2396:, Little, Brown and Company (1999), p. 365. 2060:, Little, Brown and Company (1999), p. 279. 1981:, Little, Brown and Company (1999), p. 127. 1968:, Little, Brown and Company (1999), p. 116. 1952:, Little, Brown and Company (1999), p. 112. 4591: 4577: 4569: 4248: 4234: 4226: 3984: 3970: 3962: 3068: 3054: 3046: 3008:Orders of precedence in the United Kingdom 2873: 2646:Butler, D.; Westlake, M. (16 March 2000). 2506: 2504: 1888:, Little, Brown and Company (1999), p. 37. 1660:, Little, Brown and Company (1999), p. 26. 641:Norman Stewart Hughson Lamont was born in 54: 31: 2032:"BBK - Statistics - Time series database" 1732:, Little, Brown and Company (1999), p. 8. 661:, after his father took up a position at 233:Minister of State for Defence Procurement 4862:Alumni of Fitzwilliam College, Cambridge 3951:Interim Chancellor of the Exchequer, as 287:Minister of State for Trade and Industry 137:24 July 1989 – 28 November 1990 1306: 1214:recommended him, and Lamont was made a 625:in 1998. Lamont was a supporter of the 621:from 1990 until 1993. He was created a 245:2 September 1985 – 21 May 1986 83:28 November 1990 – 27 May 1993 2781:from the original on 24 September 2015 2332:, HM Treasury (March 1993), Table 1.1. 2296:, HM Treasury (March 1993), Table 6.1. 2253:: CS1 maint: archived copy as title ( 2246: 1824:: CS1 maint: archived copy as title ( 1817: 1689: 1551:from the original on 17 September 2016 1464:from the original on 24 September 2018 1364:from the original on 20 September 2020 353:7 May 1979 – 5 September 1981 2443:from the original on 11 November 2012 2330:Financial Statement and Budget Report 2294:Financial Statement and Budget Report 1252:In February 2005, it was reported in 7: 4972:21st-century Scottish businesspeople 4967:20th-century Scottish businesspeople 2743:Webster, Philip (10 December 2008). 2697:from the original on 13 October 2015 2073:, HarperCollins (1999), pp. 334–336. 1174:In boundary changes enacted for the 1160:Prime Minister of the United Kingdom 2933:Financial Secretary to the Treasury 2541:"Pinochet death 'saddens' Thatcher" 2280:Alan Budd, 2004 Wincott Lecture in 2267:Alan Budd, 2004 Wincott Lecture in 2121:Alan Budd, 2004 Wincott Lecture in 1857:from the original on 2 January 2011 1780:, Bantam Press (1992), pp. 418–420. 1752:"1979 Conservative Party Manifesto" 1525:from the original on 10 August 2017 1495:from the original on 5 October 2014 1386:. Leave Means Leave. Archived from 987:Public Sector Borrowing Requirement 767:Financial Secretary to the Treasury 191:21 May 1986 – 24 July 1989 179:Financial Secretary to the Treasury 4952:Life peers created by Elizabeth II 4872:Conservative Party (UK) life peers 2685:Wintour, Patrick (16 April 2009). 2477:d'Ancona, Matthew (15 June 2016). 2011:from the original on 21 April 2009 1758:from the original on 1 August 2010 1678:from the original on 24 April 2010 1452:Castle, Stephen (3 October 1992). 990:2009–10 in the April 2009 budget. 673:, Scotland, and read economics at 450:4 May 1972 – 8 April 1997 19:For the Scottish Liberal MPs, see 14: 4957:Chief Secretaries to the Treasury 4907:Presidents of the Cambridge Union 4000:Chief Secretaries to the Treasury 2666:from the original on 10 July 2021 2553:from the original on 15 June 2007 2164:from the original on 14 June 2022 2007:. Stats.oecd.org. 30 March 2009. 1912:"Lamont's 'green shoots' address" 1580:from the original on 18 July 2011 1247:1999 European Parliament election 856:Negotiating the Maastricht Treaty 4809: 4557: 4214: 3993: 2878:Parliament of the United Kingdom 2716:Hastings, Max (2 October 2006). 2579:from the original on 15 May 2010 2489:from the original on 6 July 2020 2353:from the original on 10 May 2011 1433:from the original on 21 May 2022 1033:his friend the former Labour MP 779:European Exchange Rate Mechanism 551: 2960:Chief Secretary to the Treasury 2148:Braid, Mary (1 December 1992). 2099:, HarperCollins (1996), p. 550. 2086:, HarperCollins (1999), p. 341. 2034:. Bundesbank.de. Archived from 2005:"(downloaded on 24 April 2009)" 1647:, HarperCollins (1993), p. 755. 1515:"Lord Lamont joins Phorm board" 1421:Laister, David (1 March 2019). 1334:from the original on 6 May 2021 771:Chief Secretary to the Treasury 677:, where he was Chairman of the 665:. He was privately educated at 547: 125:Chief Secretary to the Treasury 2199:in mortgage interest payments. 1674:. Publications.parliament.uk. 864:(EMU); this would lead to the 675:Fitzwilliam College, Cambridge 586:Fitzwilliam College, Cambridge 21:Sir Norman Lamont, 2nd Baronet 1: 2529:. 30 July 1998. p. 8287. 2127:Institute of Economic Affairs 1144:Conservative Philosophy Group 494:Norman Stewart Hughson Lamont 3077:Chancellors of the Exchequer 1142:At a private meeting of the 901:Exchange Rate Mechanism exit 395:Member of the House of Lords 25:Norman Lamont (MP for Wells) 2998:Second Lord of the Treasury 2979:Chancellor of the Exchequer 2464:Manchester University Press 1616:– via Newspapers.com. 1196:Harrogate and Knaresborough 862:Economic and monetary union 806:Chancellor of the Exchequer 619:Chancellor of the Exchequer 71:Chancellor of the Exchequer 4993: 4947:Rothschild & Co people 2775:publications.parliament.uk 1754:. Conservative-party.net. 1485:"Mr Lamont's dark history" 844:, then chief economist at 41:The Lord Lamont of Lerwick 18: 4807: 4555: 4263: 4212: 4006: 3946: 3034: 3021: 3013: 3006: 2995: 2985: 2976: 2966: 2957: 2949: 2939: 2930: 2922: 2917: 2891: 2883: 2876: 2349:. London. 26 April 2009. 1605:Grimsby Evening Telegraph 1409:Grimsby Evening Telegraph 1283:Economic Research Council 1210:, but the following year 1090:and also cut the rate of 975:Monetary Policy Committee 967:Treasury Select Committee 938:Monetary Policy Committee 825:Treasury Select Committee 699:N M Rothschild & Sons 591: 480: 443: 415: 404: 346: 292: 238: 184: 130: 76: 65: 53: 4887:Members of the Bow Group 2652:. Springer. p. 85. 2431:Lea, Ruth (2 May 2005). 2220:See for example p. 3 of 1645:The Downing Street Years 1600:"Victory for Mr. Lamont" 1249:, but was unsuccessful. 733:, who went on to become 3029:Baron Lamont of Lerwick 2912:Constituency abolished 2830:Lamont, Norman (1999). 1608:. 5 May 1972. p. 1 1220:Baron Lamont of Lerwick 957:Post-ERM chancellorship 727:Kingston upon Hull East 687:Cambridge Union Society 60:Official portrait, 2019 4819:Also attended meetings 4539:Lord Young of Graffham 2095:Cited in Edmund Dell, 1164:European Economic Area 1074:MP. He is the current 850:Gross Domestic Product 834:Institute of Directors 716:Early political career 663:Scartho Road Infirmary 474:Constituency abolished 4504:Norman St John-Stevas 3093:Eustace of Fauconberg 2603:Paul Foot writing in 2030:Deutsche Bundesbank. 1427:The Grimsby Telegraph 1188:Kingston and Surbiton 1176:1997 general election 926:Robin Leigh-Pemberton 800:1992 general election 739:Deputy Prime Minister 729:. He was defeated by 4962:British Eurosceptics 4902:People from Shetland 2898:Kingston-upon-Thames 2894:Member of Parliament 2633:10 July 2021 at the 2611:10 July 2021 at the 2549:. 11 December 2006. 1778:The View from No. 11 1230:In 1998, the former 1078:of the euro-sceptic 747:Kingston-upon-Thames 721:Member of Parliament 615:Kingston-upon-Thames 550: 1971; 438:Kingston-upon-Thames 433:Member of Parliament 37:The Right Honourable 2887:John Boyd-Carpenter 2437:The Daily Telegraph 1643:Margaret Thatcher, 1208:resignation honours 1100:which dubbed him a 1054:Post-chancellorship 1025:Je ne regrette rien 971:inflation targeting 461:John Boyd-Carpenter 4796:William Waldegrave 4639:Viscount Cranborne 4624:Virginia Bottomley 4524:William Waldegrave 3953:Lord Chief Justice 2918:Political offices 2815:Adults in the Room 2813:Yanis Varoufakis, 2575:. Remember Chile. 2526:The London Gazette 2235:on 1 December 2008 1914:. 14 January 2009. 1390:on 24 October 2017 1324:"Mr Norman Lamont" 1234:of Chile, General 946:Access credit card 796:Retail Price Index 280:The Lord Trefgarne 16:British politician 4844: 4843: 4674:Michael Heseltine 4566: 4565: 4374:Sir Geoffrey Howe 4364:Michael Heseltine 4267:Margaret Thatcher 4223: 4222: 3959: 3958: 3044: 3043: 2986:Succeeded by 2967:Succeeded by 2940:Succeeded by 2659:978-0-230-55439-9 2625:Isabel Hilton in 2084:The Autobiography 2071:The Autobiography 1519:theregister.co.uk 1265:10 Downing Street 1232:military dictator 1204:Liberal Democrats 1134:, the journalist 1064:Sovereign Britain 866:Maastricht Treaty 787:Michael Heseltine 759:Margaret Thatcher 745:to become MP for 631:Leave Means Leave 595: 594: 364:Margaret Thatcher 310:Margaret Thatcher 256:Margaret Thatcher 202:Margaret Thatcher 148:Margaret Thatcher 4984: 4977:Scottish bankers 4942:UK MPs 1992–1997 4937:UK MPs 1987–1992 4932:UK MPs 1983–1987 4927:UK MPs 1979–1983 4922:UK MPs 1974–1979 4912:UK MPs 1970–1974 4831:Alastair Goodlad 4813: 4781:Gillian Shephard 4766:Michael Portillo 4593: 4586: 4579: 4570: 4561: 4534:William Whitelaw 4514:David Waddington 4404:Sir Keith Joseph 4329:Nicholas Edwards 4257:Thatcher Cabinet 4250: 4243: 4236: 4227: 4218: 3998: 3997: 3986: 3979: 3972: 3963: 3353:of Great Britain 3070: 3063: 3056: 3047: 3038:The Lord Haskins 3035:Followed by 3014:Preceded by 2950:Preceded by 2923:Preceded by 2884:Preceded by 2874: 2845: 2834:. Little Brown. 2818: 2811: 2805: 2797: 2791: 2790: 2788: 2786: 2767: 2761: 2760: 2758: 2756: 2740: 2734: 2733: 2731: 2729: 2713: 2707: 2706: 2704: 2702: 2682: 2676: 2675: 2673: 2671: 2643: 2637: 2621: 2615: 2599:Salvador Allende 2595: 2589: 2588: 2586: 2584: 2573:"Remember Chile" 2569: 2563: 2562: 2560: 2558: 2537: 2531: 2530: 2517: 2511: 2508: 2499: 2498: 2496: 2494: 2474: 2468: 2467: 2459: 2453: 2452: 2450: 2448: 2428: 2422: 2416: 2410: 2403: 2397: 2390: 2384: 2378: 2372: 2369: 2363: 2362: 2360: 2358: 2339: 2333: 2327: 2321: 2315: 2309: 2303: 2297: 2291: 2285: 2278: 2272: 2265: 2259: 2258: 2252: 2244: 2242: 2240: 2234: 2228:. Archived from 2227: 2218: 2212: 2206: 2200: 2193: 2187: 2180: 2174: 2173: 2171: 2169: 2153: 2145: 2139: 2136: 2130: 2129:, (2005), p. 15. 2119: 2113: 2106: 2100: 2093: 2087: 2080: 2074: 2067: 2061: 2054: 2048: 2047: 2045: 2043: 2027: 2021: 2020: 2018: 2016: 2001: 1995: 1988: 1982: 1975: 1969: 1962: 1953: 1946: 1940: 1934: 1928: 1922: 1916: 1915: 1908: 1902: 1895: 1889: 1882: 1876: 1873: 1867: 1866: 1864: 1862: 1856: 1849: 1841: 1830: 1829: 1823: 1815: 1813: 1811: 1806:on 19 April 2009 1805: 1799:. Archived from 1798: 1790: 1781: 1774: 1768: 1767: 1765: 1763: 1748: 1742: 1739: 1733: 1726: 1720: 1717: 1711: 1708: 1702: 1701: 1695: 1687: 1685: 1683: 1667: 1661: 1654: 1648: 1641: 1635: 1624: 1618: 1617: 1615: 1613: 1596: 1590: 1589: 1587: 1585: 1567: 1561: 1560: 1558: 1556: 1541: 1535: 1534: 1532: 1530: 1511: 1505: 1504: 1502: 1500: 1480: 1474: 1473: 1471: 1469: 1449: 1443: 1442: 1440: 1438: 1418: 1412: 1406: 1400: 1399: 1397: 1395: 1380: 1374: 1373: 1371: 1369: 1350: 1344: 1343: 1341: 1339: 1320: 1314: 1311: 1292:Yanis Varoufakis 1236:Augusto Pinochet 1226:After Parliament 1136:Matthew d'Ancona 693:Corporate career 647:Shetland Islands 605: 555: 553: 549: 507: 503: 501: 485:Personal details 469: 457: 448: 420: 384: 372: 360: 351: 330: 318: 306: 297: 276: 264: 252: 243: 222: 210: 198: 189: 168: 156: 144: 135: 114: 102: 90: 81: 58: 48: 32: 4992: 4991: 4987: 4986: 4985: 4983: 4982: 4981: 4847: 4846: 4845: 4840: 4814: 4805: 4786:Lord Waddington 4776:Malcolm Rifkind 4736:Brian Mawhinney 4649:Michael Forsyth 4644:Stephen Dorrell 4614:Jonathan Aitken 4607:Cabinet Members 4602: 4597: 4567: 4562: 4553: 4494:Malcolm Rifkind 4489:Nicholas Ridley 4464:Cecil Parkinson 4399:Michael Jopling 4339:Sir Ian Gilmour 4309:Lord Carrington 4274:Humphrey Atkins 4270: 4259: 4254: 4224: 4219: 4210: 4002: 3992: 3990: 3960: 3955: 3942: 3833:Heathcoat-Amory 3550: 3543: 3347: 3079: 3074: 3040: 3027: 3019: 3001: 2991: 2982: 2972: 2963: 2955: 2945: 2936: 2928: 2901: 2889: 2853: 2846:(autobiography) 2842: 2829: 2826: 2821: 2812: 2808: 2798: 2794: 2784: 2782: 2769: 2768: 2764: 2754: 2752: 2742: 2741: 2737: 2727: 2725: 2715: 2714: 2710: 2700: 2698: 2684: 2683: 2679: 2669: 2667: 2660: 2645: 2644: 2640: 2635:Wayback Machine 2622: 2618: 2613:Wayback Machine 2596: 2592: 2582: 2580: 2571: 2570: 2566: 2556: 2554: 2539: 2538: 2534: 2519: 2518: 2514: 2509: 2502: 2492: 2490: 2476: 2475: 2471: 2461: 2460: 2456: 2446: 2444: 2430: 2429: 2425: 2419:Financial Times 2417: 2413: 2405:Norman Lamont, 2404: 2400: 2392:Norman Lamont, 2391: 2387: 2383:25 August 2001. 2379: 2375: 2370: 2366: 2356: 2354: 2341: 2340: 2336: 2328: 2324: 2316: 2312: 2304: 2300: 2292: 2288: 2282:Black Wednesday 2279: 2275: 2269:Black Wednesday 2266: 2262: 2245: 2238: 2236: 2232: 2225: 2223:"Archived copy" 2221: 2219: 2215: 2207: 2203: 2194: 2190: 2182:Norman Lamont, 2181: 2177: 2167: 2165: 2157:The Independent 2147: 2146: 2142: 2137: 2133: 2123:Black Wednesday 2120: 2116: 2108:Norman Lamont, 2107: 2103: 2097:The Chancellors 2094: 2090: 2081: 2077: 2068: 2064: 2056:Norman Lamont, 2055: 2051: 2041: 2039: 2029: 2028: 2024: 2014: 2012: 2003: 2002: 1998: 1990:Norman Lamont, 1989: 1985: 1977:Norman Lamont, 1976: 1972: 1964:Norman Lamont, 1963: 1956: 1948:Norman Lamont, 1947: 1943: 1935: 1931: 1925:The Independent 1923: 1919: 1910: 1909: 1905: 1897:Norman Lamont, 1896: 1892: 1884:Norman Lamont, 1883: 1879: 1874: 1870: 1860: 1858: 1854: 1847: 1843: 1842: 1833: 1816: 1809: 1807: 1803: 1796: 1794:"Archived copy" 1792: 1791: 1784: 1775: 1771: 1761: 1759: 1750: 1749: 1745: 1740: 1736: 1728:Norman Lamont, 1727: 1723: 1718: 1714: 1709: 1705: 1688: 1681: 1679: 1669: 1668: 1664: 1656:Norman Lamont, 1655: 1651: 1642: 1638: 1628:The Chancellors 1625: 1621: 1611: 1609: 1598: 1597: 1593: 1583: 1581: 1576:. Bicc.org.uk. 1569: 1568: 1564: 1554: 1552: 1543: 1542: 1538: 1528: 1526: 1513: 1512: 1508: 1498: 1496: 1482: 1481: 1477: 1467: 1465: 1458:The Independent 1451: 1450: 1446: 1436: 1434: 1420: 1419: 1415: 1407: 1403: 1393: 1391: 1382: 1381: 1377: 1367: 1365: 1352: 1351: 1347: 1337: 1335: 1322: 1321: 1317: 1312: 1308: 1304: 1228: 1172: 1128: 1114:Financial Times 1092:corporation tax 1056: 1013: 963:monetary policy 959: 922:Bank of England 915:Black Wednesday 903: 858: 817: 808: 755: 753:Junior Minister 723: 718: 695: 639: 617:. He served as 601: 557: 554: 1999) 545: 541: 538: 537: 521:Political party 508: 505: 499: 497: 496: 495: 467: 455: 449: 444: 435: 424: 423:19 October 1998 422: 416: 411: 397: 382: 370: 358: 352: 347: 328: 316: 304: 298: 293: 274: 262: 250: 244: 239: 220: 208: 196: 190: 185: 166: 154: 142: 136: 131: 112: 100: 88: 82: 77: 61: 49: 44: 42: 39: 28: 17: 12: 11: 5: 4990: 4988: 4980: 4979: 4974: 4969: 4964: 4959: 4954: 4949: 4944: 4939: 4934: 4929: 4924: 4919: 4914: 4909: 4904: 4899: 4894: 4889: 4884: 4879: 4874: 4869: 4864: 4859: 4849: 4848: 4842: 4841: 4839: 4838: 4833: 4828: 4822: 4820: 4816: 4815: 4808: 4806: 4804: 4803: 4798: 4793: 4788: 4783: 4778: 4773: 4768: 4763: 4758: 4753: 4748: 4743: 4741:Patrick Mayhew 4738: 4733: 4726: 4721: 4719:John MacGregor 4716: 4711: 4706: 4701: 4696: 4691: 4686: 4684:Michael Howard 4681: 4676: 4671: 4666: 4661: 4656: 4651: 4646: 4641: 4636: 4634:Kenneth Clarke 4631: 4626: 4621: 4616: 4610: 4608: 4604: 4603: 4598: 4596: 4595: 4588: 4581: 4573: 4564: 4563: 4556: 4554: 4552: 4551: 4549:George Younger 4546: 4544:Baroness Young 4541: 4536: 4531: 4526: 4521: 4516: 4511: 4506: 4501: 4496: 4491: 4486: 4481: 4476: 4471: 4466: 4461: 4456: 4451: 4446: 4441: 4436: 4431: 4429:John MacGregor 4426: 4421: 4416: 4411: 4406: 4401: 4396: 4394:Patrick Jenkin 4391: 4386: 4381: 4376: 4371: 4369:Michael Howard 4366: 4361: 4356: 4351: 4346: 4341: 4336: 4331: 4326: 4324:Lord Cockfield 4321: 4319:Kenneth Clarke 4316: 4311: 4306: 4301: 4296: 4291: 4286: 4281: 4276: 4264: 4261: 4260: 4255: 4253: 4252: 4245: 4238: 4230: 4221: 4220: 4213: 4211: 4209: 4208: 4203: 4198: 4193: 4188: 4183: 4178: 4173: 4168: 4163: 4158: 4153: 4148: 4143: 4138: 4133: 4128: 4123: 4118: 4113: 4108: 4103: 4098: 4093: 4088: 4083: 4078: 4073: 4068: 4063: 4058: 4053: 4048: 4043: 4038: 4033: 4028: 4023: 4018: 4016:Boyd-Carpenter 4013: 4007: 4004: 4003: 3991: 3989: 3988: 3981: 3974: 3966: 3957: 3956: 3947: 3944: 3943: 3941: 3940: 3935: 3930: 3925: 3920: 3915: 3910: 3905: 3900: 3895: 3890: 3885: 3880: 3875: 3870: 3865: 3860: 3855: 3850: 3845: 3840: 3835: 3830: 3825: 3820: 3815: 3810: 3805: 3800: 3795: 3790: 3785: 3783:N. Chamberlain 3780: 3775: 3770: 3765: 3763:N. Chamberlain 3760: 3755: 3750: 3748:A. Chamberlain 3745: 3740: 3735: 3730: 3725: 3723:A. Chamberlain 3720: 3715: 3710: 3705: 3700: 3695: 3690: 3685: 3680: 3675: 3670: 3665: 3660: 3655: 3650: 3645: 3640: 3635: 3630: 3625: 3620: 3615: 3610: 3605: 3600: 3593: 3588: 3583: 3578: 3571: 3566: 3561: 3555: 3553: 3551:United Kingdom 3545: 3544: 3542: 3541: 3536: 3531: 3526: 3519: 3514: 3509: 3504: 3499: 3494: 3489: 3484: 3479: 3474: 3469: 3464: 3459: 3454: 3447: 3442: 3437: 3432: 3425: 3420: 3415: 3410: 3403: 3398: 3393: 3388: 3383: 3378: 3373: 3368: 3363: 3357: 3355: 3349: 3348: 3346: 3345: 3340: 3335: 3330: 3325: 3320: 3315: 3310: 3305: 3300: 3295: 3290: 3285: 3280: 3275: 3270: 3265: 3260: 3255: 3250: 3245: 3240: 3235: 3230: 3225: 3220: 3215: 3210: 3205: 3200: 3195: 3190: 3185: 3180: 3175: 3170: 3165: 3160: 3155: 3150: 3145: 3140: 3135: 3130: 3125: 3120: 3115: 3110: 3105: 3100: 3095: 3089: 3087: 3081: 3080: 3075: 3073: 3072: 3065: 3058: 3050: 3042: 3041: 3036: 3033: 3020: 3017:The Lord Burns 3015: 3011: 3010: 3004: 3003: 2993: 2992: 2989:Kenneth Clarke 2987: 2984: 2974: 2973: 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4379:David Howell 4314:Paul Channon 4299:Peter Brooke 4294:Leon Brittan 4265: 4070: 3948: 3887: 3828:Thorneycroft 3773:W. Churchill 3733:Lloyd George 3698:R. Churchill 3595: 3573: 3523:Ellenborough 3521: 3457:Bilson-Legge 3449: 3445:Bilson-Legge 3435:Bilson-Legge 3427: 3405: 3031: 3028: 3022: 2996: 2977: 2970:David Mellor 2958: 2943:Peter Lilley 2931: 2911: 2892: 2856: 2831: 2824:Bibliography 2814: 2809: 2795: 2783:. Retrieved 2774: 2765: 2753:. Retrieved 2748: 2738: 2726:. Retrieved 2722:The Guardian 2721: 2711: 2699:. Retrieved 2691:The Guardian 2690: 2680: 2668:. Retrieved 2648: 2641: 2627:The Guardian 2626: 2619: 2605:The Guardian 2604: 2593: 2581:. Retrieved 2567: 2555:. Retrieved 2544: 2535: 2524: 2515: 2491:. Retrieved 2483:The Guardian 2482: 2472: 2463: 2457: 2445:. Retrieved 2436: 2426: 2418: 2414: 2406: 2401: 2393: 2388: 2380: 2376: 2367: 2355:. Retrieved 2346: 2337: 2329: 2325: 2317: 2313: 2305: 2301: 2293: 2289: 2281: 2276: 2268: 2263: 2237:. Retrieved 2230:the original 2216: 2204: 2196: 2191: 2183: 2178: 2166:. 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Retrieved 1327: 1318: 1309: 1290: 1287: 1276: 1269: 1253: 1251: 1244: 1240:human rights 1229: 1219: 1173: 1157: 1153:Douglas Hurd 1141: 1129: 1112: 1106: 1101: 1095: 1084: 1080:Bruges Group 1068:John Redwood 1063: 1060:euro-sceptic 1057: 1043: 1028: 1014: 1005:Alan Walters 996:Sunday Times 995: 992: 983: 979: 960: 942: 934:Gordon Brown 919: 912: 904: 887: 883:Douglas Hurd 879: 859: 842:Gavyn Davies 838:Green shoots 822: 818: 809: 792: 783: 775:Nigel Lawson 756: 724: 706:working peer 703: 696: 659:Lincolnshire 640: 608:Conservative 597: 596: 525:Conservative 473: 468:Succeeded by 445: 426:Life peerage 417: 406: 388:David Mellor 383:Succeeded by 348: 329:Succeeded by 294: 275:Succeeded by 240: 226:Peter Lilley 221:Succeeded by 186: 172:David Mellor 167:Succeeded by 132: 113:Succeeded by 78: 29: 4917:UK MPs 1974 4857:1942 births 4761:John Patten 4751:Tony Newton 4724:Lord Mackay 4659:John Gummer 4499:Lord Soames 4479:Francis Pym 4454:Tony Newton 4444:Angus Maude 4354:Lord Havers 4349:John Gummer 4344:Lord Gowrie 4289:John Biffen 3713:Hicks Beach 3688:Hicks Beach 3608:Spring Rice 3108:Westminster 2861:1803–2005: 2521:"No. 55210" 1394:14 December 1200:Phil Willis 1072:David Evans 1015:During the 1011:Resignation 874:Werner Plan 671:Musselburgh 627:Eurosceptic 456:Preceded by 371:Preceded by 317:Preceded by 268:Adam Butler 263:Preceded by 209:Preceded by 155:Preceded by 101:Preceded by 4851:Categories 4730:John Major 4689:David Hunt 4484:Peter Rees 4449:John Moore 4439:John Major 4384:David Hunt 4091:Waldegrave 3559:Vansittart 3539:Vansittart 3477:Dowdeswell 3462:Barrington 3293:Cottington 3163:Harvington 3138:Willoughby 3133:de la Leye 3123:G. Giffard 3118:W. Giffard 3085:of England 3002:1990–1993 2983:1990–1993 2964:1989–1990 2953:John Major 2937:1986–1989 2926:John Moore 2785:2 November 2693:. London. 2670:21 October 2439:. London. 1491:. London. 1437:29 January 1302:References 1088:income tax 1021:Edith Piaf 1001:Tony Blair 908:Bundesbank 895:Maastricht 763:John Major 735:Tony Blair 637:Early life 581:Alma mater 516:, Scotland 504:8 May 1942 500:1942-05-08 376:Alex Eadie 214:John Moore 160:John Major 106:John Major 94:John Major 4474:Jim Prior 4459:John Nott 4151:Alexander 4061:MacGregor 4026:Macmillan 3848:Callaghan 3823:Macmillan 3813:Gaitskell 3678:Gladstone 3673:Northcote 3668:Gladstone 3648:Gladstone 3633:Gladstone 3575:Tenterden 3512:Addington 3502:Cavendish 3492:Cavendish 3482:Townshend 3472:Grenville 3451:Mansfield 3440:Lyttelton 3298:Colepeper 3263:Fortescue 3253:Sackville 3173:Stratford 3168:Wodehouse 3103:Leicester 3024:Gentlemen 2832:In Office 2749:The Times 2407:In Office 2394:In Office 2381:The Times 2347:The Times 2184:In Office 2110:In Office 2058:In Office 1992:In Office 1979:In Office 1966:In Office 1950:In Office 1899:In Office 1886:In Office 1730:In Office 1672:"Hansard" 1658:In Office 1529:10 August 1279:Le Cercle 1255:The Times 1216:life peer 1039:Scops owl 1030:Newsnight 944:personal 930:Alan Budd 870:Ted Heath 689:in 1964. 683:President 645:, in the 623:life peer 570:Education 446:In office 408:Incumbent 349:In office 295:In office 241:In office 187:In office 133:In office 79:In office 4709:Ian Lang 4699:Tom King 4409:Tom King 4081:Portillo 4036:Boardman 3933:Kwarteng 3843:Maudling 3798:Anderson 3708:Harcourt 3693:Harcourt 3683:Childers 3653:Disraeli 3643:Disraeli 3628:Disraeli 3618:Goulburn 3586:Goulburn 3564:Robinson 3534:Perceval 3467:Dashwood 3401:Aislabie 3396:Stanhope 3313:Duncombe 3283:Portland 3278:Greville 3243:Cromwell 3213:Thwaites 3198:Somerset 3143:Benstead 3128:Chishull 3113:Chishull 3098:Maunsell 2779:Archived 2751:. London 2724:. 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Index

Sir Norman Lamont, 2nd Baronet
Norman Lamont (MP for Wells)
The Right Honourable
PC

Chancellor of the Exchequer
John Major
John Major
Kenneth Clarke
Chief Secretary to the Treasury
Margaret Thatcher
John Major
David Mellor
Financial Secretary to the Treasury
Margaret Thatcher
John Moore
Peter Lilley
Minister of State for Defence Procurement
Margaret Thatcher
Adam Butler
The Lord Trefgarne
Minister of State for Trade and Industry
Margaret Thatcher
Norman Tebbit
Peter Morrison
Parliamentary Under-Secretary of State for Energy
Margaret Thatcher
Alex Eadie
David Mellor
Member of the House of Lords

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