Word: chancellor
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...leadership by Heseltine. She dislikes the ambitious, 57- year-old self-made millionaire as much for his views (she considers some of them dangerously socialistic, particularly his willingness to intervene in industrial policy) as for his flamboyant public personality. For her successor, Thatcher preferred one of two Cabinet ministers: Chancellor of the Exchequer John Major, 47, or Foreign Secretary Douglas Hurd, 60, both of whom, out of loyalty, could not declare themselves as candidates until the Prime Minister retired from the contest. She pulled out just in time for the two + ministers to beat the deadline of noon Thursday...
...controls, to a single currency by 1994, to free immigration within the European Community. "It was easy for certain countries to sit back and let her do the talking," said a senior E.C. diplomat. "She would take the political risks in saying what some others also thought." West German Chancellor Helmut Kohl, for example, may have to come out in the open in slowing down the movement toward a common E.C. currency, a goal heatedly opposed by Thatcher and Kohl's own Bundesbank. A new, more European-minded British Prime Minister might also complicate Franco-German relations by simply joining...
...Chancellor of the Exchequer, Major has a solid reputation in economic affairs, but his youth and relative inexperience in the Cabinet are held against him. Hurd, on the other hand, is regarded as experienced, wise and with the necessary "bottom," a Tory expression for depth of character. His drawbacks: a lack of expertise in economic affairs and any talents for arousing voters in an election campaign. Hurd and Major are friends with great mutual respect; they are also a bit like Tweedledee and Tweedledum to many Britons. Heseltine is different, controversial, and he has one great advantage: he can fire...
...Margaret Thatcher had a political son, he would be John Major, 47, who has been on the fast track ever since she made him Foreign Secretary in July 1989 and, the following October, Chancellor of the Exchequer. Though he has had relatively little Cabinet experience, Major is gunning for the premiership with the apparent blessing of his mentor...
...said to have first caught Thatcher's eye when he engaged her in a blazing dinner debate on economic policy. As Chief Secretary to the Treasury from 1987 to July 1989, Major gained a reputation for his quick grasp of complex issues and steady nerves. Later as Chancellor he combined with Douglas Hurd to persuade Thatcher to take Britain into the E.C.'s Exchange Rate Mechanism, an achievement of considerable political agility...