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=== 1920β1945 === {{Main|Interwar Britain}} [[File:Sir Winston Churchill - 19086236948.jpg|thumb|upright=0.75|[[Winston Churchill]], who was twice Prime Minister of the United Kingdom]] In 1922, Bonar Law and [[Stanley Baldwin]] led the breakup of the coalition, and the Conservatives governed until 1923, when a minority Labour government led by [[Ramsay MacDonald]] came to power. The Conservatives regained power in 1924 but were defeated in 1929 as a minority Labour government took office. In 1931, following the collapse of the Labour minority government, it entered another coalition, which was dominated by the Conservatives with some support from factions of both the Liberal Party and the Labour Party ([[National Labour Organisation|National Labour]] and [[National Liberal Party (UK, 1931)|National Liberals]]).<ref name="Vernon Bogdanor, Multi-Party Politics and the Constitution">{{cite book|first=Vernon|last=Bogdanor|title=Multi-Party Politics and the Constitution|year=1983|publisher=Cambridge University Press}}</ref> In May 1940 a more balanced coalition was formed<ref name="Vernon Bogdanor, Multi-Party Politics and the Constitution" />βthe [[National Government (United Kingdom)|National Government]]βwhich, under the leadership of [[Winston Churchill]], saw the United Kingdom through the Second World War. However, the party lost the [[1945 United Kingdom general election|1945 general election]] in a landslide to the resurgent Labour Party.<ref>Marriott, ''Modern England, 1885β1945'' (4th ed. 1949) pp 504β66. [https://archive.org/details/in.ernet.dli.2015.54679 online free]</ref><ref>Alfred F. Havighurst, ''Modern England, 1901β1984'' (2nd ed. 1987) [https://archive.org/details/modernengland19000havi online free to borrow]</ref> The concept of the "property-owning democracy" was coined by Noel Skelton in 1923 and became a core principle of the party.<ref name="Matthew Francis 2011">Matthew Francis, "A Crusade to Enfranchise the Many': Thatcherism and the 'Property-Owning Democracy." ''Twentieth Century British History'' (2011)</ref>
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