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Nigel Lawson is dead. Former Finance Minister Margaret Thatcher has died at the age of 91

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Former British Finance Minister Nigel Lawson, who was the architect of Margaret Thatcher’s economic reforms, has died at the age of 91, British media reported on Monday.

Nigel Lawson, who served as Chancellor of the Exchequer from 1983 to 1989, advocated lower taxes, increased private property and a free market economy, and laid the foundation for Prime Minister Margaret Thacher’s vision for Britain.

Ultimately, however, he was accused of failing to contain a sharp rise in interest rates and a deep recession. “I misjudged the strength of the boom,” Lawson told the Guardian in 1992.

“Optimism is a good thing, much better than pessimism, much better than despondency, but things have gone too far,” he said.

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Nigel Lawson died at the age of 91Andy Rain/EPA/PAP

Lawson’s resignation in October 1989 after years of disagreement with the Prime Minister on key policy issues – especially towards the European Union – plunged Thatcher’s Conservative government.

“Prophet of Brexit”, “Chancellor of Transformation”

Former UK Prime Minister Boris Johnson described Lawson as “a fearless and original flame of free-market conservatism” and as a supporter of Britain leaving the European Union. “He was a prophet of Brexit and a lover of continental Europe. He was a giant,” Johnson tweeted.

Prime Minister Rishi Sunak described him as a “chancellor of transformation and inspiration” in his Twitter post. He also mentioned that Lawson’s photo was in his office.

Main photo source: Andy Rain/EPA/PAP

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