Born in Hampstead, London on 11 March 1932, Lawson was Chancellor of the Exchequer from 1983 to 1989 in the government of Margaret Thatcher.

The second longest-serving chancellor after Gordon Brown, Lawson began his career in politics in 1974, when he was elected as MP for the Blaby constituency in Leicestershire. He held this seat until 1992 when he was made a life peer.

During his time as Chancellor, Lawson introduced significant tax reforms, cutting corporation tax from 52% to 35% and reduced national insurance contributions (NICs) for the low paid.