British Prime Minister Margaret Thatcher resigns as leader of the Conservative Party and, therefore, as Prime Minister. She is succeeded in both positions by John Major.

The prime minister of the United Kingdom is the head of government of the United Kingdom. The prime minister advises the sovereign on the exercise of much of the royal prerogative, chairs the Cabinet, and selects its ministers. Modern prime ministers hold office by virtue of their ability to command the confidence of the House of Commons, so they are invariably members of Parliament.

Margaret Hilda Thatcher, Baroness Thatcher, was a British stateswoman who served as Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party from 1975 to 1990. She was the longest-serving British prime minister of the 20th century and the first woman to hold the position. As prime minister, she implemented policies that came to be known as Thatcherism. A Soviet journalist dubbed her the "Iron Lady", a nickname that became associated with her uncompromising politics and leadership style.

The Conservative and Unionist Party, commonly the Conservative Party and colloquially the Tories, is one of the two main political parties in the United Kingdom, along with the Labour Party. It sits on the centre-right to right-wing of the left–right political spectrum. Following its defeat by Labour at the 2024 general election it is currently the second-largest party by the number of votes cast and number of seats in the House of Commons; as such it has the formal parliamentary role of His Majesty's Most Loyal Opposition. It encompasses various ideological factions including one-nation conservatives, Thatcherites and traditionalist conservatives. There have been 20 Conservative prime ministers.

Sir John Major is a British retired politician who served as Prime Minister of the UK and Leader of the Conservative Party from 1990 until his defeat to Tony Blair's Labour Party in the 1997 general election. He previously held Cabinet positions under Margaret Thatcher. Major was Member of Parliament (MP) for Huntingdon, formerly Huntingdonshire, from 1979 to 2001. Since stepping down, Major has focused on writing and his business, sporting, and charity work, and commented on political developments in the role of an elder statesman.