Lord Lamont of Lerwick

Norman Lamont was a Cabinet Minister under Margaret Thatcher and John Major, and a member of the House of Commons for twenty-five years.

He was Chancellor of the Exchequer at a particularly difficult time that included Britain’s exit from the ERM. The problems he faced were similar to those facing Britain today. He introduced tough measures to reduce Government borrowing and the deficit which led Sir Alan Walters, Economic Advisor to Lady Thatcher, to describe Norman Lamont "to be not only the most effective but also the bravest Chancellor since the War". Many economists have attributed the economic stability and growth enjoyed by Britain in the ‘90s and thereafter to the tough policies introduced by him. When he was Chancellor, Norman Lamont’s political advisor was David Cameron and his Parliamentary Private Secretary, William Hague. In 2008, David Cameron asked Norman Lamont with other former Chancellors to be part of a team to advise on Britain’s financial problems. Norman Lamont was Britain’s Chief Negotiator at the Maastricht Treaty and secured Britain’s non-participation in the euro, of which he remains a strong opponent and critic. As well as being a working Peer, he is a director of a number of financial companies.