'The Iron Lady' Margaret Thatcher Dies at 87

Former British Prime Minister Margaret Thatcher, the first woman to become British prime minister, has died at the age of 87, her spokeswoman said Monday. Thatcher served from 1979 to 1990 as leader of the Conservative Party. A Soviet journalist once called her the "Iron Lady", a nickname which became associated with her uncompromising politics and leadership style. She retired from public life after suffering a stroke in 2002.

In 2011, actress Meryl Streep's portrayed the stateswoman in a widely acclaimed performance, considered by many to be one of the finest of her career. She received her 17th Academy Award nomination and ultimately the Academy Award for Best Actress for her portrayal of Thatcher across four decades. She also earned her third Golden Globe Award for Best Actress - Motion Picture Drama (eighth overall), and her second BAFTA Award for Best Actress in a Leading Role.

Originally a research chemist before becoming a barrister, Thatcher was elected Member of Parliament (MP) for Finchley in 1959. Edward Heath appointed her Secretary of State for Education and Science in his 1970 government. In 1975 Thatcher defeatEd Heath in the Conservative Party leadership election and became Leader of the Opposition, as well as the first woman to lead a major political party in the United Kingdom. She became Prime Minister after winning the 1979 general election.

After entering 10 Downing Street, Thatcher introduced a series of political and economic initiatives to reverse what she perceived to be Britain's precipitous national decline.[nb 1] Her political philosophy and economic policies emphasised deregulation (particularly of the financial sector), flexible labour markets, the privatisation of state-owned companies, and reducing the power and influence of trade unions. Thatcher's popularity during her first years in office waned amid recession and high unemployment, until economic recovery and the 1982 Falklands War brought a resurgence of support, resulting in her re-election in 1983.

Thatcher was re-elected for a third term in 1987, but her Community Charge (popularly referred to as "poll tax") was widely unpopular and her views on the European Community were not shared by others in her Cabinet. She resigned as Prime Minister and party leader in November 1990, after Michael Heseltine launched a challenge to her leadership. Thatcher held a life peerage as Baroness Thatcher, of Kesteven in the County of Lincolnshire, which entitled her to sit in the House of Lords.

Photo credit: Murray Sanders / Daily Mail /Rex USA

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