Churchill as Chancellor of the Exchequer (1924–9) and the return to the gold standard

The general election of 29 October 1924 saw Winston Churchill return to Parliament as Constitutionalist MP for Epping after two years in the political wilderness. It also saw Stanley Baldwin swept back to Number 10 on a Conservative landslide. Speculation about whether Baldwin would cement Churchill’s drift from the Liberal fold by offering him office surfaced during the election campaign. Churchill nevertheless thought ‘it very unlikely that I shall be invited to join the Government, as owing to the size of the majority it will probably be composed only of impeccable Conservatives’. [ 1 ] Because of his anti-socialist credentials, his ability to reassure wavering Liberals through his opposition to protectionism – dropped by Baldwin after its rejection in the 1923 general election – and concern he could prove a rallying point for backbench malcontents, there was however much to commend giving Churchill a post. To his surprise, Baldwin offered Churchill the long-coveted office of Chancellor of the Exchequer, briefly held by his father before his ill-conceived resignation in 1887. Having arranged a meeting with his Labour predecessor, Philip Snowden, about outstanding business the new Chancellor set to work. Marking his political transition, a few days later Churchill resigned from the National Liberal Club.

Smart City-Regional Governance: A 'Dual Transition'

This paper introduces the concept of ‘dual transition’ in relation to the notion of ‘smartness’ in city-regional governance. This consists of two intersecting dimensions, a broader change in political-economic and societal circumstances which surround city-regions, and a more detailed, local change towards ‘smartness’ in policy practices. Although ‘smart’ seems to have become a somewhat ubiquitous adjective in urban policy, it seeks to project policies that seek to go beyond a one-dimensional ‘growth agenda’ by addressing also the multifaceted quest for social, economic and environmental sustainability. The underlying shift in discourse, rationality and suggested policy responses in both dimensions may be captured by the concept of ‘transition’ in relation to policies and governance. Originally developed in conjunction with broad political-economic regime change, such as post-authoritarian democratisation, the idea of ‘transition’ has also been applied to the more specific concept of sustainability as ‘sustainability transition’.