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Dissolution of Parliament

The dissolution of Parliament took place on Thursday 30 May 2024. All business in the House of Commons and House of Lords has come to an end. There are currently no MPs and every seat in the Commons is vacant until after the general election on 4 July 2024.

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Churchill as Chancellor: The Gold Standard

Between 1922 and 1924 Churchill found himself in a political wilderness, exiled from Parliament after losing his seat in Dundee. He was now without affiliation to any of the main parties. In October 1924 he won the Epping Division seat as a Constitutionalist, although he had been reconciled with former Conservative colleagues. This reconciliation was confirmed when Prime Minister Stanley Baldwin asked Churchill to join the Cabinet and become Chancellor of the Exchequer. After accepting the post his first major decision was the restoration of the Gold Standard at its pre-First World War parity of $4.86 to the pound which he announced in his first Budget statement in April 1925. This decision was greeted with much delight by the Bank of England and his party colleagues but economists such as John Maynard Keynes warned that such a measure could seriously damage British export industries such as coal. As a result of this, the following year the TUC called a General Strike that lasted for ten days.  Churchill remained at the Treasury until the Conservatives lost office at the 1929 General Election.


Churchill's speech about the Gold Standard


28th April 1925

Catalogue number

Hansard, 5th Series, Volume 183, cc 49