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First female British prime minister was Margaret Thatcher, who served as president from 1979 till her resignation in 1990. She was born in 1925 and she is also the first woman to have held the leadership of the labor party as well. She came to power amidst an economic turmoil and an era of labor strikes. She dealt with all these issues successfully and was called and iron lady because of the strict policies she had to adopt. She took many economic initiatives that emphasized on entrepreneurship and free markets so as to make Britain more modern and progressive. She was also able to lower the inflation rate. In 1982, Argentina invaded the British overseas territory of Falkland and Thatcher sent the naval fleet to save it.
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