Margaret Thatcher could be the face of the new £50 note

Margaret Thatcher led the Conservative party as Prime Minister between 1979 and 1990 Credit: PA

Former prime minister Margaret Thatcher is among a list of names being considered as the face of the new £50 note.

Baroness Thatcher, who was born in Grantham in Lincolnshire, occupied 10 Downing Street as Conservative leader between 1979 and 1990, making her the UK's longest-serving leader of the 20th century.

She was also Britain's first female prime minister.

The daughter of a grocer, she attended her local grammar school before moving to Oxford University.

She died in 2013 but remains a controversial figure of British politics.

Nicknamed the Iron Lady, she was credited by many for her uncompromising politics and leadership style.

As a strong advocate of financial deregulation, she oversaw the privatisation of many state-owned companies.

Her time in power is also associated with the break-up of trade union power and Britain's victory in the Falklands War in 1982.

In 1984, she famously survived an assassination attempt by the IRA at a hotel in Brighton.

The £50 note is the latest to be given a polymer new design.

English Romantic painter, J.M.W.Turner, will be featured on the new £20 note, due to be released in 2020.