Former Chancellor of the Exchequer Alistair Darling, who oversaw Britain’s economic system in the course of the 2008 international monetary disaster, has died on the age of 70.
“Darling, the much-loved husband of Margaret and beloved father of Calum and Anna, died in Edinburgh this morning after a brief spell in Western Normal Hospital underneath the great care of the most cancers workforce,” his spokeswoman mentioned.
Darling served underneath former Labour Prime Minister Gordon Brown from 2007 to 2010. His calmness and even mood stood in distinction to Brown’s abrupt temper adjustments throughout one of many worst durations of financial tumult in 30 years.
When the US subprime mortgage disaster unfold to the U.Okay., inflicting a liquidity disaster within the banking business and triggering a run on the British financial institution Northern Rock, Darling allowed the Financial institution of England to bail it out.
His stint within the Treasury ended when Labour misplaced the final election in 2010. Darling later led the Higher Collectively marketing campaign, a cross-party group that efficiently campaigned for Scotland to stay a part of the U.Okay. within the 2014 independence referendum. Darling turned a member of the higher Home of Lords in 2015.
“Alistair lived a life dedicated to public service,” present Labour Celebration chief Keir Starmer mentioned in an announcement. “He will likely be remembered because the chancellor whose calm experience and honesty helped to information Britain by means of the tumult of the worldwide monetary disaster. He was a lifelong advocate for Scotland and the Scottish individuals and his best skilled satisfaction got here from representing his constituents in Edinburgh.”
After changing into a member of Parliament in 1987, Darling rose rapidly by means of the Labour ranks and have become a key ally of Tony Blair and Brown as they sought to modernize the celebration and remodel it into New Labour, occurring to win a landslide victory in 1997.
“I think about myself extremely lucky to have benefited from Alistair’s counsel and friendship,” Starmer added. “He was all the time at hand to offer recommendation constructed on his a long time of expertise – all the time together with his trademark wry, good humor.”