Mrs. Thatcher stepped down as MP for Finchley, the seat she had held since 1959, deciding not to stand at the April 992 General Election. On 26 June 1992, Mrs. Thatcher was honoured with a life peerage and entered the House of Lords as Baroness Thatcher of Kesteven. In her inaugural speech of 2 July she recalled her term as Prime Minister, My Lords, it is a privilege to take my place on these distinguished and tranquil Benches after 33 testing years before the mast in another place.