The triumph of tradition
British politics froze for about 12 years after 16 September 1992, otherwise known as Black Wednesday. Real movement between the two main parties was imperceptible. The Conservative party, dominant for most of the 20th century, embarked on a long period of semi-collapse, commanding the support of no more than one third of voters, perhaps rather less. New Labour, in sharp contrast, could rely on the goodwill of over 40 per cent of the electorate.