Edward Heath, leader of the Conservative Party and Prime Minister had called and unexpectedly lost the February 1974 general election.

The leader would henceforth be elected annually, whether the party was in opposition or government, in the period following a Queen's Speech, though in most years this would prove a formality.

Following the review, on 14 January 1975 Heath called a leadership election for 4 February, in order to assert his authority as leader of the party.

However, on 20 January Margaret Thatcher opted to stand, with Airey Neave as her campaign manager, as did backbencher Hugh Fraser.

Heath resigned, but another ballot was needed: 49-year-old Thatcher became the first woman to be elected leader of a major British political party.