Liberal Democrat peer Lord Taverne has died aged 97. The former Labour Treasury minister passed away peacefully at his London home in the early hours of the morning.
As Dick Taverne, he served as a Treasury minister during the UK's preparation for decimal currency. He championed the introduction of the 50p coin to replace the 10-shilling note.
In 1973, he achieved a remarkable by-election victory after quitting Labour to stand as a Democratic Labour candidate. The split came following a row over his pro-European views.
Political journey
Taverne had been Lincoln's MP since 1962 before standing against his former party in the by-election. He polled 58.2% but subsequently lost his seat at the October 1974 general election.
As Labour movement splits continued, he joined the Social Democratic Party and eventually became a Liberal Democrat peer in 1996. In 1970, he became the first director of the influential Institute for Fiscal Studies economic think tank.
Family and legacy
He is survived by his wife of 70 years, Janice, and daughters Suzanna and Caroline. The family said: "It is with great sadness that we announce the death of Dick Taverne. He was a much loved and loving husband, father and grandfather. We will all miss him enormously."
Political tributes
Liberal Democrat leader Sir Ed Davey said: "Dick was a passionate, principled and thoughtful colleague who will be sorely missed by all of us in the Liberal Democrat family. A founding member of our party, Dick was a passionate European who inspired us all with his sharp intelligence and incredible experience in government, politics and beyond over many decades."
Lib Dem leader in the Lords, Lord Purvis, added: "Dick was a greatly valued colleague whose commitment to the causes in which he believed, European integration and cooperation, rational political and economic debate, and fairness, were steadfast. As the Budget approaches, the foundations he laid as the first director of the IFS we still benefit from today."
Sources used: "PA Media" Note: This article has been created with Artificial Intelligence (AI).
