Conservative Party

Political party of the USA and the UK. Although there is a Conservative Party in the USA, it is generally a minor element in national elections. The term is most often used in reference to the UK political party, one of the two historic British parties; the name replaced ‘Tory’ in general use from 1830 onward. Traditionally the party of landed interests, it broadened its political base under Benjamin Disraeli's leadership in the 19th century. The present Conservative Party's free-market capitalism is supported by the world of finance and the management of industry; its economic policies have increased the spending power of the majority, but also the gap between rich and poor; nationalized industries have been sold off (see privatization); military spending and close alliance with the USA are favored.

Under the leadership of Margaret Thatcher, the UK Conservative Party returned to power in May 1979; she was re-elected for a third term in 1987 before resigning in 1990. The Conservative government continued in office under John Major who went on to be re-elected in 1992 but suffered a landslide defeat in 1997. The current leader of the Conservative Party (from 2005) is David Cameron, who is perceived as more liberal than some of his predecessors.