Former Labour chancellor Denis Healey died at his home in Sussex this morning, aged 98. According to his family, he died peacefully in his sleep following a short illness.
The politician served as an MP for Leeds for 40 years, and was chancellor of the exchequer from 1974 to 1979. In 1980, he became deputy leader of the Labour party in opposition.
During his time as chancellor, he had to deal with major difficulties including a five-fold increase in oil prices and the potential collapse of the pound.
In his life before becoming an MP, Lord Healey studied as an undergraduate at Oxford University and then joined the army, serving in Sicily, Italy and North Africa during World War Two.
Current chancellor George Osborne tweeted that Healey had been a “giant” of the Labour movement.
Sad to hear that Denis Healey has died at 98. A giant of the Labour movement + Chancellor in the most difficult circumstances— George Osborne (@George_Osborne) October 3, 2015