and, after months of speculation about her future as Prime Minister, she resigned on 28 November 1990, making way for a new Conservative leader more likely to win the next general election in the interests of party unity. John Major (1990–1997) John Major won the party leadership election on 27 November 1990, and his appointment led to an almost immediate boost in Conservative Party fortunes. A MORI poll six days before Mrs Thatcher's resignation had shown the Conservatives to be 11 points behind Labour, but within two months the Conservatives had returned to the top of the opinion polls with a narrow lead. A general election had to be held within the next eighteen months and the UK economy was sliding into recession, but 1991 was a year of electoral uncertainty as the Conservatives and Labour regularly swapped places at the top of the opinion polls, and Major resisted Neil Kinnock's numerous calls for an immediate election. The election was finally held on 9 April 1992 and the Conservatives won a fourth successive electoral victory, even though the economy was still in recession and most of the polls had predicted either a narrow Labour victory or a hung parliament. Major's vigorous campaigning, notably his claim that the UK would have higher prices and higher taxes under a Labour government, was seen to have been crucial to his election win (in which he became the first—and as of 2015, only—Prime Minister to attract 14,000,000 votes in a general election), as was a high-profile campaign by the newspaper The Sun against Labour leader Neil Kinnock, who resigned in the aftermath of the election to be succeeded by John Smith. The Conservative Party also touched upon the issue of immigration, claiming that under Labour, immigration would rise hugely. The UK economy was deep in recession by this stage and remained so until the end of the year. The pound sterling was forced out of the European Exchange Rate Mechanism on 16 September 1992, a day thereafter referred to as Black Wednesday. Soon after, approximately one million householders faced repossession of their homes during a recession that saw a sharp rise in unemployment, taking it close to 3,000,000 people. The party subsequently lost much of its reputation for good financial stewardship although the end of the recession was declared in April 1993 bringing economic recovery and a fall in unemployment. From 1994 to 1997,