"I'm a bit of a Socialist in my way"
Anti-socialist poster produced by the Conservative Party
Public DomainAnti-socialist poster produced by the Conservative Party (1909) - Credit: Conservative Party

The development of Socialism as a force in British politics was a gradual process, which culminated in the formation of the Independent Labour Party in 1893, and the Labour Representation Committee (LRC) in 1900. On winning 29 seats in the 1906 election, the LRC changed its name to the Labour Party.

From this point onwards, the Labour Party gained in strength, and by 1922 it had replaced the Liberal Party as the main opposition to the Conservatives. The first Labour government (with Liberal support in a hung parliament) was formed in January 1924 under the leadership of Ramsay Macdonald, but it lasted only until November of that year. Labour came to power for the second time from 1929 to 1931, again with Ramsay Macdonald at the helm.