10 November 1980: Michael Foot elected Labour leader

On this day in 1980, Michael Foot won the Labour party leadership election, steering the party into its worst-ever general election defeat.

Michael Foot and wife Jill
Michael Foot with his wife Jill after being elected
(Image credit: © Popperfoto via Getty Images/Getty Images)

A disastrous general election defeat followed by a hard-left' politician being elected to lead the party, it's not hard to see why Jeremy Corbyn's Labour party of 2015 has been compared so often to Michael Foot's of 1980. Both have been charged with being too left-wing, and of making Labour unelectable. But is the comparison really fair?

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Chris Carter
Wealth Editor, MoneyWeek