Nigel Lawson was a self-described “radical Tory” whose six years as Secretary of the Treasury earned him a place in history as one of the Treasury’s most powerful leaders.
His key role in Margaret Thatcher’s program to control public finances, cut taxes and privatize state-owned companies helped bring the UK out of years of crisis and transform society forever.
But later in life, he found himself on the wrong side of history, becoming the leading voice in denying the realities and dangers of man-made global warming, while Brexit, another part of Lawson’s legacy, remains highly controversial.
It could not be taken for granted that his career would be so closely linked to Thatcher’s; He entered parliament 15 years after her and was not part of her inner circle when she became party leader.
But he made such an impression as a junior finance minister that he was quickly appointed to the cabinet, and as energy minister laid the groundwork for Thatcher’s privatization plan and prepared her government for a fateful confrontation with the miners’ unions.
Lawson succeeded Jeffrey Howe, a longtime Thatcher supporter, as chancellor, but did not share her aggressive style or radical political approach and took economic policy to a new level.
He cut income tax, social security and business taxes while keeping the public finances in balance, unlike his later students Liz Truss and Kwasi Kwarteng. He launched the City of London “Big Bang” that placed the UK at the center of the financial system of the modern world.
Lawson’s departure from the Cabinet came after he fell out with his boss over his desire to peg the UK’s exchange rate to the Deutsche Mark. his love for the Continent and residence in France.
At a time when political leaders were lucky enough to serve more than a year, his career seems even more remarkable.
Source: I News
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