Margaret Thatcher dies at 87

Former U.K Prime Minister Margaret Thatcher is dead. Margaret Thatcher according to the BBC was reported to have died "peacefully" after suffering a stroke.

Baroness Thatcher, as she was commonly referred to was a controversial figurehead of conservative ideology during her time in office. She was the first woman to hold such exalted role in British history.

Born on October 13, 1925, in Grantham, England, Thatcher, nicknamed “the Iron lady” became Britain's Conservative Party leader and in 1979 was elected prime minister, the first woman to hold the position. During her three terms, she cut social welfare programs, reduced trade union power and privatized certain industries. Thatcher resigned in 1991 due to unpopular policy and power struggles in her party.

British Prime Minister David Cameron has described Thatcher as “a great Briton”. According to Cameron, "It was with great sadness that l learned of Lady Thatcher's death. We've lost a great leader, a great prime minister and a great Briton."

A Buckingham Palace spokesman according to the BBC said: "The Queen was sad to hear the news of the death of Baroness Thatcher. Her Majesty will be sending a private message of sympathy to the family."

The union jack above Number 10 is reported to have been lowered to half-mast.