<P> In 1834, Tory Prime Minister Robert Peel issued the Tamworth Manifesto in which he pledged to endorse moderate political reform . This marked the beginning of the transformation of British conservatism from High Tory reactionism towards a more modern form based on "conservation". The party became known as the Conservative Party as a result, a name it has retained to this day . However, Peel would also be the root of a split in the party between the traditional Tories (led by the Earl of Derby and Benjamin Disraeli) and the "Peelites" (led first by Peel himself, then by the Earl of Aberdeen). The split occurred in 1846 over the issue of free trade, which Peel supported, versus protectionism, supported by Derby . The majority of the party sided with Derby whilst about a third split away, eventually merging with the Whigs and the radicals to form the Liberal Party . Despite the split, the mainstream Conservative Party accepted the doctrine of free trade in 1852 . </P> <P> In the second half of the 19th century, the Liberal Party faced political schisms, especially over Irish Home Rule . Leader William Gladstone (himself a former Peelite) sought to give Ireland a degree of autonomy, a move that elements in both the left and right - wings of his party opposed . These split off to become the Liberal Unionists (led by Joseph Chamberlain), forming a coalition with the Conservatives before merging with them in 1912 . The Liberal Unionist influence dragged the Conservative Party towards the left as Conservative governments passing a number of progressive reforms at the turn of the 20th century . By the late 19th century, the traditional business supporters of the Liberal Party had joined the Conservatives, making them the party of business and commerce . </P> <P> After a period of Liberal dominance before the First World War, the Conservatives gradually became more influential in government, regaining full control of the cabinet in 1922 . In the interwar period, conservatism was the major ideology in Britain as the Liberal Party vied with the Labour Party for control of the left . After the Second World War, the first Labour government (1945--1951) under Clement Attlee embarked on a program of nationalization of industry and the promotion of social welfare . The Conservatives generally accepted those policies until the 1980s . In the 1980s, the Conservative government of Margaret Thatcher, guided by neoliberal economics, reversed many of Labour's programmes . </P> <P> Other conservative political parties, such as the United Kingdom Independence Party (founded in 1993) and the Democratic Unionist Party (founded in 1971), began to appear, although they have yet to make any significant impact at Westminster (as of 2014, the DUP comprises the largest political party in the ruling coalition in the Northern Ireland Assembly). </P>

Explain the term conservatism and its impact on europe