Lawson was born in 1932 to a wealthy Jewish family[7] living in Hampstead, London. Insofar as Lawson acknowledges policy errors, he attributes them to a failure to raise interest rates during 1986 and considers that had Margaret Thatcher not vetoed the UK joining the European Exchange Rate Mechanism in November 1985 it might have been possible to adjust to these beneficial changes in the arena of microeconomics with less macroeconomic turbulence. However the Global Warming Policy Foundation (GWPF) has now revealed the source of these supposedly “official” figures was a meteorologist who works for a libertarian think tank, the Cato Institute, founded by US billionaire and leading climate sceptic, Charles Koch. [42] The report cites a mismatch between the economic costs and benefits of climate policy, and also criticises the greenhouse gas emission reduction targets set in the Kyoto Protocol. [ citation needed ]. Margaret Thatcher gained power in 1979 and began 18 years of Conservative government. The former Tory Chancellor was interviewed on BBC Radio 4’s Today programme about the release of former US Vice-President Al Gore’s new film, The Inconvenient Sequel: Truth to Power, which describes how climate change is already having significant effects on the planet but also that the plunging cost of renewable energy means there is a solution. [1] [2] [3] [4] He was an active supporter of the Eurosceptic pressure group Leave Means Leave. He also argues that warming will bring both benefits and negative consequences, and that the impact of these changes will be relatively moderate rather than apocalyptic. In an interview in 2010 Nigel Lawson said that an unintended consequence of the Big Bang was the financial crisis of 2007–2008.[22]. Lawson also changed the budget deficit from £10.5 billion (3.7% of GDP) in 1983 to a budget surplus of £3.9 billion in 1988 and £4.1 billion in 1989, the year of his resignation. Tory! Lawson opposed the introduction of the Community Charge (nicknamed the poll tax) as a replacement for the previous rating system for the local financing element of local government revenue. In the Cabinet reshuffle of September 1981, Lawson was promoted to the position of Secretary of State for Energy. As orthodox monetarists, Lawson and Thatcher agreed to a steady rise in interest rates to restrain demand, but this had the effect of inflating the headline inflation figure. ", 20 years ago the dole queue hit 3 million – today it is the workforce that's a record, Lawson boom, Brown boom, they all bust in the end, https://www.bbc.co.uk/news/special/politics97/budget97/background/interrupt.shtml, https://api.parliament.uk/historic-hansard/commons/1988/mar/15/income-tax, 1989: Thatcher beats off leadership rival, The long and the short of stewardship at No11, https://www.bbc.co.uk/news/uk-politics-22429790, https://www.bbc.co.uk/news/uk-politics-eu-referendum-35487586, "Nigel Lawson named chairman of Vote Leave campaign", "Nigel Lawson on Brexit: 'I love Europe! In 1986, the City of London's financial markets were deregulated in the so-called 'Big Bang'. Photograph: Stefan Rousseau/PA. [32], On 1 July 1992 he was given a life peerage as Baron Lawson of Blaby, of Newnham in the County of Northamptonshire.[18][33]. Nigel Lawson, Self: Thatcher: The Downing Street Years. [24], The budget in March 1988 was remembered for taking almost two hours to deliver due to continuous interruptions and protest from opposition members. In their report, the Committee recommend the HM Treasury take a more active role in climate policy. Global Warming Policy Foundation concedes that the Tory peer's supposedly official figures were wrong and produced by a right-wing think tank, Find your bookmarks in your Independent Premium section, under my profile. Lawson's lecture to the Centre for Policy Studies think-tank, published 1 November 2006[47] criticises the Stern Review and proposed what is described as a rational approach, advocating adaptation to changes in global climate, rather than attempting mitigation, i.e., reducing greenhouse gas emissions. [19] He was a key proponent of the Thatcher Government's privatisation policy. At that time, the United Kingdom held the Presidency of the European Communities. [52], The Charity Commission requires that statements by campaigning charities "must be factually accurate and have a legitimate evidence base". During these two years Lawson's public image remained low-key, but from the 1986 Budget (in which he resumed the reduction of the standard rate of personal Income Tax from the 30% rate to which it had been lowered in Howe's 1979 Budget), his stock rose as unemployment began to fall from the middle of 1986 (employment growth having resumed over three years earlier). The GWPF added that it stood by Lord Lawson’s claims that the IPCC agreed there had been no increase in extreme weather. He told Connexion, a newspaper for the English community in France, that was he selling up and blamed 'French bureaucracy' for not yet receiving his card. Nigella has been teaching us about the pleasures of the table since her first book, How to Eat, hit the shelves in 1998. 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