Chancellorship of Winston Churchill

Winston Churchill was appointed Chancellor of the Exchequer in 1924 and served until 1929. He presented five budgets during his chancellorship. He was initially sceptical about advice from the Bank of England and leading economists to implement a return to the gold standard. In April 1925, however, he agreed to include the measure in his first budget. It resulted in deflation and unemployment, and was a catalyst to the miners' strike that led to the General Strike of 1926. Churchill's other policies as Chancellor included free trade, a reduction in the rate of local taxation, lowering the pension age and support for coal miners and the mining industry.