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Encyclopedia > Norman Lamont
Norman Lamont

In office
28 November 1990 – 27 May 1993
Preceded by John Major
Succeeded by Kenneth Clarke

Born 8 May 1942
Shetland Islands, Scotland
Political party Conservative

Norman Stewart Hughson Lamont, Baron Lamont of Lerwick, PC (born 8 May 1942) was Conservative Member of Parliament for Kingston-upon-Thames, England from 1972 until 1997. In 1998 he was created a life peer. He was best-known for his period serving as Chancellor of the Exchequer from 1990 until 1993. The Chancellor of the Exchequer is the title held by the British cabinet minister responsible for all financial matters. ... November 28 is the 332nd day (333rd on leap years) of the year in the Gregorian Calendar. ... This article is about the year. ... May 27 is the 147th day (148th in leap years) of the year in the Gregorian calendar, with 218 days remaining. ... 1993 (MCMXCIII) was a common year starting on Friday of the Gregorian calendar and marked the Beginning of the International Decade to Combat Racism and Racial Discrimination (1993-2003). ... Sir John Major KG, CH (born 29 March 1943) is a British politician who served as Prime Minister of the United Kingdom from 1990 to 1997. ... Kenneth Harry Clarke, QC, MP, (born 2 July 1940) is a leading Conservative Party politician in the United Kingdom. ... May 8 is the 128th day of the year in the Gregorian Calendar (129th in leap years). ... Year 1942 (MCMXLII) was a common year starting on Thursday (the link is to a full 1942 calendar). ... The Shetland Islands, also called Shetland (archaically spelled Zetland) formerly called Hjaltland, comprise one of 32 council areas of Scotland. ... Motto: (Latin for No one provokes me with impunity)1 Anthem: Multiple unofficial anthems Capital Edinburgh Largest city Glasgow Official language(s) English, Gaelic, Scots 2 Government Constitutional monarchy  - Queen Queen Elizabeth II  - Prime Minister of the UK Tony Blair MP  - First Minister Jack McConnell MSP Unification    - by Kenneth I... The Conservative Party (officially the Conservative & Unionist Party) is currently the second largest political party in the United Kingdom in terms of sitting Members of Parliament (MPs), and the largest in terms of public membership. ... Her Majestys Most Honourable Privy Council is a body of advisors to the British Sovereign. ... May 8 is the 128th day of the year in the Gregorian Calendar (129th in leap years). ... Year 1942 (MCMXLII) was a common year starting on Thursday (the link is to a full 1942 calendar). ... The Conservative Party (officially the Conservative & Unionist Party) is currently the second largest political party in the United Kingdom in terms of sitting Members of Parliament (MPs), and the largest in terms of public membership. ... A Member of Parliament, or MP, is a representative elected by the voters to a parliament. ... Kingston-upon-Thames was a parliamentary constituency in the South-West London suburb of Kingston upon Thames. ... Motto: (French for God and my right) Anthem: God Save the King/Queen Capital London Largest city London Official language(s) English (de facto) Unification    - by Athelstan AD 927  Area    - Total 130,395 km² (1st in UK)   50,346 sq mi  Population    - 2006 est. ... 1972 (MCMLXXII) was a leap year starting on Saturday. ... 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ... 1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ... In the United Kingdom, Life Peers are appointed members of the Peerage whose titles may not be inherited (those whose titles are inheritable are known as hereditary peers). ... The Chancellor of the Exchequer is the title held by the British cabinet minister responsible for all financial matters. ... This article is about the year. ... 1993 (MCMXCIII) was a common year starting on Friday of the Gregorian calendar and marked the Beginning of the International Decade to Combat Racism and Racial Discrimination (1993-2003). ...

Contents

Early career

Lamont was born in the Shetland Islands on 8 May 1942 and was educated at Loretto School, Musselburgh, Edinburgh, Scotland and Fitzwilliam College, Cambridge, England where he was President of the Cambridge Union Society in 1964. At Cambridge he was a contemporary of Michael Howard, Kenneth Clarke, Leon Brittan, and John Gummer all of whom became leading figures of the Conservative Party. He worked in the finance industry (in particular N M Rothschild & Sons) before standing as a candidate for Member of Parliament in the June 1970 General Election for Hull East. He was defeated by the current Deputy Prime Minister, John Prescott. Two years later, in May 1972 he won a by-election to become MP for Kingston upon Thames. The Shetland Islands, also called Shetland (archaically spelled Zetland) formerly called Hjaltland, comprise one of 32 council areas of Scotland. ... May 8 is the 128th day of the year in the Gregorian Calendar (129th in leap years). ... Year 1942 (MCMXLII) was a common year starting on Thursday (the link is to a full 1942 calendar). ... Loretto School is an independent school in Scotland, founded in Musselburgh in 1827. ... Welcome to the Honest Toun Showing the Brunton Hall, from the west of the town Musselburgh is a town in East Lothian, Scotland, on the coast of the Firth of Forth, six miles east of Edinburgh city centre. ... Edinburgh (pronounced ; Scottish Gaelic: ) is the capital of Scotland and its second-largest city. ... Motto: (Latin for No one provokes me with impunity)1 Anthem: Multiple unofficial anthems Capital Edinburgh Largest city Glasgow Official language(s) English, Gaelic, Scots 2 Government Constitutional monarchy  - Queen Queen Elizabeth II  - Prime Minister of the UK Tony Blair MP  - First Minister Jack McConnell MSP Unification    - by Kenneth I... Full name Fitzwilliam College Motto Ex antiquis et novissimis optima The best of old and new Named after Fitzwilliam Museum, named after Richard Fitzwilliam, named after Fitzwilliam Street, original location Previous names Fitzwilliam Hall [Non collegiate] (1869), Fitzwilliam House [Non collegiate] (1924) Established 1966 Sister College(s) St Edmund Hall... Motto: (French for God and my right) Anthem: God Save the King/Queen Capital London Largest city London Official language(s) English (de facto) Unification    - by Athelstan AD 927  Area    - Total 130,395 km² (1st in UK)   50,346 sq mi  Population    - 2006 est. ... The coat of arms for the Cambridge Union Society, which shares much in common with the coat of arms for the University of Cambridge. ... The Rt Hon. ... Kenneth Harry Clarke, QC, MP, (born 2 July 1940) is a leading Conservative Party politician in the United Kingdom. ... Sir Leon Brittan, Rt. ... This article or section may be confusing for some readers, and should be edited to be clearer or more simplified. ... N. M. Rothschild and Sons is the investment bank company of the Rothschild family. ... June is the sixth month of the year in the Gregorian calendar, with a length of 30 days. ... 1970 (MCMLXX) was a common year starting on Thursday (the link is to a full 1970 calendar). ... Hull East is a constituency represented in the House of Commons of the Parliament of the United Kingdom. ... The office of Deputy Prime Minister is one that has only existed occasionally in the history of the United Kingdom. ... John Leslie Prescott MP (born May 31, 1938) is a British Labour Party politician, Deputy Prime Minister, First Secretary of State and Member of Parliament for the north east constituency of Hull East. ... 1972 (MCMLXXII) was a leap year starting on Saturday. ... A by-election or bye-election is a special election held to fill a political office when the incumbent has died or resigned. ...


In government

Lamont served in successive governments under Margaret Thatcher and John Major for a total of 14 years, in the Departments of Energy, Industry, Defence and the Treasury. He was Financial Secretary to the Treasury, then Chief Secretary to the Treasury at the time of Nigel Lawson's resignation and remained in that position under Major's Chancellorship. In this position he acquiesced in Major's decision to join the European Exchange Rate Mechanism (ERM) at a central parity of 2.95 Deutschmarks to the Pound. Shortly afterwards he successfully managed Major's election campaign to succeed Margaret Thatcher as party leader and Prime Minister. In the process he clashed angrily in private with Nigel Lawson who preferred Michael Heseltine as Thatcher's successor. Margaret Hilda Thatcher, Baroness Thatcher, LG, OM, PC, FRS (born 13 October 1925) was Prime Minister of the United Kingdom from 1979 to 1990. ... Sir John Major KG, CH (born 29 March 1943) is a British politician who served as Prime Minister of the United Kingdom from 1990 to 1997. ... The Chief Secretary to the Treasury is a junior position in the British Cabinet. ... Nigel Lawson, Baron Lawson of Blaby, PC (born March 11, 1932), was a British politician, Chancellor of the Exchequer between June 1983 and October 1989. ... The European exchange rate mechanisms (or ERM) was a system introduced by the European Community in March 1979, as part of the European Monetary System (EMS), to reduce exchange-rate variability and achieve monetary stability in Europe, in preparation for Economic and Monetary Union and the introduction of a single... Margaret Hilda Thatcher, Baroness Thatcher, LG, OM, PC, FRS (born 13 October 1925) was Prime Minister of the United Kingdom from 1979 to 1990. ... Michael Heseltine walks out of the cabinet meeting having resigned, January 9, 1986 Michael Ray Dibdin Heseltine, Baron Heseltine, CH, PC (born 21 March 1933) is a British Conservative politician and businessman. ...


Lamont replaced Major as Chancellor in Major's new Cabinet, thereby finalising his commitment to Major's exchange rate policy. Lamont claimed that the recession would be "short-lived and relatively shallow" and later that "the green shoots of recovery" could be seen all around - early in 1992 one of the Sunday newspapers ran a "Green Shoots Index" of signs of recovery, only to have to drop it when few such signs could be found. Despite the Conservatives' surprise victory in the April 1992 General Election the ERM policy proved unsustainable and collapsed on Black Wednesday, when Lamont was forced to withdraw the pound from the ERM despite assuring the public that he would not do so just a week earlier. He faced fierce criticism at the time for his apparent insouciance in the face of the collapse of the stated central plank of his economic policy; sources friendly to Lamont told the newspapers that he was singing in the bath with happiness at leaving the ERM. After Major left office and published his memoirs, Lamont publicly denied Major's version of events, claiming that Major had effectively opted out of his responsibilities and left Lamont to carry the can for that day's actions. Whatever the political problems his policies caused, it was during his time as Chancellor that the basic principles which led to Britain's economic success in the past 10 years (to 2005) were first spelled out. Conventional wisdom said that without membership of the ERM, there could be no successful counter-inflationary policy in the UK. In fact, within a remarkably short space of time a formal inflation target had been adopted, monetary policy had been given intellectual rigour and restoration of public finances had begun. All these measures caused great unpopularity at the time. But they became the building blocks of economic policy under his successors, who were able to reap the gain from the pain which he had inflicted on consumers. In British politics and economics, Black Wednesday refers to September 16, 1992 when the government was forced to withdraw the Pound from the European Exchange Rate Mechanism (ERM) by currency speculators—most notably George Soros who earned over US$1 billion in doing so. ... A bathtub A bathtub (or simply bath) is a plumbing fixture used for bathing. ...


During the autumn of 1992 Lamont became a national laughing-stock, beset by a string of press stories that he had not paid his hotel bill for "champagne and large breakfasts" from the Conservative Party Conference (in fact his bill had been forwarded on for settlement), that he was in arrears on his personal credit card bill (true), that he had used taxpayers' money to evict a "sex therapist" called "Miss Whiplash" from a flat he owned (true, but it had been formally approved to allow him to obtain expedited legal proceedings; there was never any suggestion beyond innuendo that he had ever met his tenant, let alone personally made use of her services), and that he had called at a newsagent in a seedy area of Paddington late at night to purchase champagne and expensive "Raffles" cigarettes - the latter story in particular turned out to have been entirely invented.


During the Newbury by-election in May 1993, Lamont was asked at a press conference whether he most regretted claiming to see "the green shoots of recovery" or "singing in his bath". He replied by quoting the Edith Piaf song "Je ne regrette rien", a dry response which raised a laugh at the press conference but which played poorly when quoted later on the television. When called to defend him on Newsnight his friend the former Labour MP Lord Wyatt caused further merriment by claiming that Lamont could do an excellent impersonation of a Scops owl. After the government's massive loss in the by-election Lamont left office (declining a demotion to become Secretary of State for the Environment), throwing (by his own account) Major's letter of regret at his departure unopened into the wastepaper basket, and giving a resignation speech in the House of Commons that made clear his feeling that he had been unfairly treated, saying that the government 'gives the impression of being in office but not in power'; the then Party Chairman Sir Norman Fowler dismissed the speech as "dud, nasty, ludicrous and silly". Major and Lamont agree that Lamont had offered his resignation immediately after Black Wednesday and that Major pressed him to remain in office. Lamont came to the view that Major had sought his survival in office as a firebreak against the criticism of the ERM policy rebounding on himself. Newbury is the principal town in the west of the county of Berkshire in the United Kingdom. ... 1993 (MCMXCIII) was a common year starting on Friday of the Gregorian calendar and marked the Beginning of the International Decade to Combat Racism and Racial Discrimination (1993-2003). ... Non, je ne regrette rien   is a French song written in 1956 which is best known through the recording made by French singer Édith Piaf in 10 November 1960. ... Newsnight is a British daily news analysis, current affairs and politics programme broadcast between 22:30 and 23:20 on weekdays on BBC Two. ... Woodrow Lyle Wyatt, Baron Wyatt of Weeford (July 4, 1918 – December 7, 1997), was a British Labour politician, published author, journalist and broadcaster. ... Species many, see species list The scops owls, known as screech owls in the Americas are small owls in the genus Otus of the typical owl family Strigidae. ... The House of Commons is the lower house of the Parliament of the United Kingdom. ... The Right Honourable Peter Norman Fowler, Baron Fowler, PC (born 1937) usually known as Norman Fowler before he was given his peerage, and probably now best known as Lord Fowler, is a British Conservative politician who was from 1981 to 1990 a member of Margaret Thatchers Cabinet. ...


Lamont appeared on the 1993 British Comedy Awards to give an award, resulting in hissing from the audience. In December 1993 the comedian Julian Clary joked to host Jonathan Ross "I've just been fisting Norman Lamont". This comment was well received by the audience but, despite Ross' s attempt to make light of the remark by asking how Clary had "clawed his way to the front of the queue", it led to Clary's career taking a big downturn. Please wikify (format) this article or section as suggested in the Guide to layout and the Manual of Style. ... This article is about the British television presenter. ... Fisting (also FF, for fist fucking) is a sexual activity that involves inserting the hand and forearm into the vagina or anus. ...


In the following years Lamont became a fierce critic of the Major government. He is now regarded as a staunch euro-sceptic. In 1995 he authored Sovereign Britain in which he envisaged Britain's withdrawal from the European Union, and was talked of as a potential leadership challenger to John Major; in the event it was John Redwood who challenged for the leadership. He is the current vice president of the euro-sceptic Bruges Group. Euroscepticism is scepticism about, or disagreement with, the purposes of the European Union, sometimes coupled with a desire to preserve national sovereignty. ... A vice president is an officer in government or business who is next in rank below a president. ... The Bruges Group is a euro-sceptic think tank which is often associated with the British Conservative Party (although this has been disputed). ...


Despite departing under a cloud, Lamont defends his budget record. The 1991 budget, in which he seized the opportunity presented by Mrs Thatcher's retirement to restrict mortgage interest tax relief to the basic rate of income tax and also cut the rate of corporation tax by two percentage points, was greeted by positive coverage in The Economist which dubbed him a Nimble Novice. In the 1992 budget his proposal to advance to a 20% basic rate of income tax through a combination of a narrow initial band, a cut in tax on deposit interest and curtailment of tax allowances was hailed as an elegant way of combining populism with progressivism, though events were later to lend support to Nigel Lawson's view that this approach was strategically inept. Even Lamont's final budget in 1993 was more sympathically received by financial specialists than John Major's 1990 budget or Kenneth Clarke's budget of November 1993. Lamont attributes the large public sector borrowing requirement (ie fiscal deficit) of these years to the depth of the recession triggered by his inability to cut interest rates sooner within the ERM. 1991 (MCMXCI) was a common year starting on Tuesday of the Gregorian calendar. ... The Economist is a weekly news and international affairs publication of The Economist Newspaper Ltd edited in London, UK. It has been in continuous publication since September 1843. ... 1992 (MCMXCII) was a leap year starting on Wednesday. ...


1997 and beyond

In boundary changes enacted for the 1997 General Election Lamont's constituency of Kingston upon Thames was split up. The northern parts were merged with Richmond and Barnes to form Richmond Park, and the southern parts merged with the larger Surbiton to form Kingston and Surbiton. Lamont lost the contest for the candidacy for the new southerly seat to the incumbent Surbiton MP. He then embarked on a high profile search for a new constituency and was eventually adopted as the Conservative candidate for Harrogate in Yorkshire. The move was seen as an attempt to parachute in an outsider, with Lamont seeming like an opportunist next to Phil Willis, a local teacher, and long-time local politician. When the General Election came his unpopularity and that of the Conservatives in general, a massive tactical voting campaign occurred in the seat and the Liberal Democrats won the seat. He was not recommended for a peerage in John Major's resignation honours, but was the following year made a peer as Baron Lamont of Lerwick, of Lerwick in the Shetland Islands. He is currently a director of Scottish Annuity & Life Holdings, a reinsurance firm, and, since 1996, chairman of Le Cercle, a foreign policy club which meets bi-annually in Washington, D.C. The UK general election, 1997 was held on 1 May 1997. ... Kingston upon Thames, part of the Royal Borough of Kingston upon Thames, is an ancient market town where Saxon kings were crowned, and is now a lively suburb of London. ... Richmond Park is a constituency represented in the House of Commons of the Parliament of the United Kingdom. ... Surbiton is a suburban area of London situated in the Royal Borough of Kingston upon Thames. ... Kingston and Surbiton is a constituency represented in the House of Commons of the Parliament of the United Kingdom. ... Statistics Population: 85,128 (with Knaresborough) Ordnance Survey OS grid reference: SE306553 Administration District: Harrogate Shire county: North Yorkshire Region: Yorkshire and the Humber Constituent country: England Sovereign state: United Kingdom Other Ceremonial county: North Yorkshire Historic county: Yorkshire (West Riding) Services Police force: North Yorkshire Police Fire and rescue... Phil Willis George Philip Willis (born 30 November 1941, Burnley) is a politician in the United Kingdom. ... The Liberal Democrats, often shortened to Lib Dems, are a liberal political party based in the United Kingdom. ... Location within the British Isles The Market Cross,Central Lerwick Lerwick is the only burgh and main port of the Shetland Islands, found more than 160 km (100 miles) off the north coast of mainland Scotland. ... The Shetland Islands, also called Shetland (archaically spelled Zetland) formerly called Hjaltland, comprise one of 32 council areas of Scotland. ... Reinsurance is a means by which an insurance company can protect itself against the risk of losses with other insurance companies. ... 1996 (MCMXCVI) was a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... Le Cercle is a foreign policy think-tank specialising in international security. ... Nickname: DC, The District Motto: Justitia Omnibus (Justice for All) Location of Washington, D.C., in relation to the states Maryland and Virginia Coordinates: Federal District District of Columbia Mayor Adrian M. Fenty (D) City Council Chairperson: Vincent C. Gray (D) Ward 1: Jim Graham (D) Ward 2: Jack Evans...


In February 2005 it was reported in The Times that Lamont and John Major had held up the release of papers concerning Black Wednesday under the Freedom of Information Act. The two wrote to the paper to deny the reports. 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... The Times is a national newspaper published daily in the United Kingdom since 1785, and under its current name since 1788. ...


In October 2006 he complained that the new party leader David Cameron lacks policies.[1] 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... David William Donald Cameron (born 9 October 1966) is a British politician, Leader of the Conservative Party, and Leader of the Opposition in the House of Commons. ...


In january 2007, following the death of former Chilean dictator Augosto Pinochet, Lord Lamont complained in a letter to The Economist that the newspaper had characterised Mr Pinochet as "a bad man" and strongly defended his coup d'etat against the democratically elected government of Salvador Allende. In the letter he also defended the executions of Chilean left wingers.


Business interests

Consultant to The Consensus Group (formerly Rotch Property)


Consultant, Fintrade


Stanley Leisure plc


Consultant to Uniastrum Bank


Chairman, Advisory Board of Uniastrum


Chairman, Small Companies Dividend Trust


Director, Balli Group plc (steel and commodity trading house)


Director, Compagnie Internationale de Participations Bancaires et Financieres (Investment Company)


Director, European Growth and Income Trust (Investment Trust) Investment trusts are companies that invest in the shares of other companies for the purpose of acting as a collective investment scheme. ...


Director, Jupiter Finance and Income Trust (Investment Trust)


Director, Scottish Re (Reinsurance Company)


Director, RAB Capital plc


Member of the Advisory Board, MerchantBridge & Co


Member of the Advisory Board of Unistream


Secretary and office at Balli plc (steel and commodity tradinghouse) (Secretary primarily business and personal but some parliamentary work)


Chairman, Le Cercle Le Cercle is a foreign policy think-tank specialising in international security. ...


Chairman, British Iranian Chamber of Commerce


President, British Romanian Chamber of Commerce


Vice-President, Bruges Group The Bruges Group is a euro-sceptic think tank which is often associated with the British Conservative Party (although this has been disputed). ...


Hon. Chairman of the International Association of Money Transfer Networks


source: http://www.publications.parliament.uk/pa/ld200506/ldselect/ldeconaf/183/18311.htm


References

Wikisource
Wikisource has original works written by or about:
Norman Lamont
Wikiquote has a collection of quotations related to:
Norman Lamont
  • Lamont, Norman (1999). In Office. Little Brown. ISBN 0-7515-3058-1. (Lamont's autobiography)

Image File history File links Wikisource-logo. ... The original Wikisource logo. ... Image File history File links Wikiquote-logo-en. ... This article or section does not cite its references or sources. ...

External links

  • Announcement of his introduction at the House of Lords House of Lords minutes of proceedings, 19 October 1998
Parliament of the United Kingdom
Preceded by
John Boyd-Carpenter
Member of Parliament for Kingston-upon-Thames
1972–1997
Succeeded by
(constituency abolished)
Political offices
Preceded by
John Moore
Financial Secretary to the Treasury
1986–1989
Succeeded by
Peter Lilley
Preceded by
John Major
Chief Secretary to the Treasury
1989–1990
Succeeded by
David Mellor
Preceded by
John Major
Chancellor of the Exchequer
1990–1993
Succeeded by
Kenneth Clarke

  Results from FactBites:
 
EMU Norman Lamont William Cash (968 words)
Lamont explained that he had perceived no benefit to Britain from monetary union, that political union will deprive the country of its independence, and that the European Parliament is an expensive and pernicious talking shop whose ultitnate aim is the destruction of national parliamentary democracy.
Lamont was said to be embittered, angry, finished.
Norman Lamont was the first senior politician to speak the unspeakable: If Britain is getting nothing out of its membership in the EU, if the future is dire economically, if it imperils the very essence of democracy, then we must think seriously about the possibility of leaving.
Norman Lamont (594 words)
Norman Lamont was Conservative MP for Kingston upon Thames from 1972 until 1997.
Lamont was born in the Shetland Islands in 1942 and was educated at Loretto School and Fitzwilliam College, University of Cambridge.
Lamont came to the view that Major had sought his survival in office as a firebreak against the criticism of the ERM policy rebounding on himself.
  More results at FactBites »

 
 

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