(George Edward) Peter Thorneycroft, Baron Thorneycroft(1909-1994), Politician; Chancellor of the Exchequer
Sitter in 30 portraits
Elected as a Conservative MP in 1938, Thorneycroft became President of the Board of Trade in 1951, and was the youngest member of Winston Churchill's cabinet. He became Chancellor of the Exchequer in Harold Macmillan's government in 1957, and was Minister of Defence (1962-64). Thorneycroft was in favour of government cuts to control inflation, but this was unpopular, and he resigned the next year. Returning to cabinet in 1960, he held several posts in government and opposition, before losing his seat in the 1966 election. He then entered the House of Lords as Baron Thorneycroft of Dunston. A strong supporter of Margaret Thatcher's monetarist policies, she made him Chairman of the Conservative Party in 1975.