Thatcher'S Trial: Six Months That Defined A LeaderMargaret Thatcher was elected Prime Minister in 1979, the first woman to hold the position, and the first woman in the Western world to lead a nation. Within two years she was beset by troubles, and it seemed her historic government would be short lived. In 1981 unemployment had risen to levels not seen since the 1930s and public finances foundered in their worst state since 1945. The 'no hope' budget delivered by Chancellor Geoffrey Howe in March