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Jim Wallace, Baron Wallace of Tankerness, is a British politician and former Deputy First Minister of Scotland. He was born on 25 August 1954 in Annan, United Kingdom. He was educated at Annan Academy and the University of Edinburgh, where he studied law. He was a Member of the Scottish Parliament from 1999 to 2007, and was the leader of the Scottish Liberal Democrats from 2005 to 2008. He was appointed Deputy First Minister of Scotland in 2007, and served in that role until 2011. He was made a life peer in 2011, and was appointed to the House of Lords as Baron Wallace of Tankerness. He is currently a member of the House of Lords Select Committee on the Constitution. He is married to Margaret, and they have two children. He is a keen golfer and enjoys sailing.

Popular As N/A
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Age 70 years old
Zodiac Sign Virgo
Born 25 August 1954
Birthday 25 August
Birthplace Annan, Dumfries and Galloway, Scotland
Nationality United Kingdom

We recommend you to check the complete list of Famous People born on 25 August. He is a member of famous Former with the age 70 years old group.

Jim Wallace, Baron Wallace of Tankerness Height, Weight & Measurements

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Who Is Jim Wallace, Baron Wallace of Tankerness's Wife?

His wife is Rosemary Fraser (m. 1983)

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Wife Rosemary Fraser (m. 1983)
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Jim Wallace, Baron Wallace of Tankerness Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is Jim Wallace, Baron Wallace of Tankerness worth at the age of 70 years old? Jim Wallace, Baron Wallace of Tankerness’s income source is mostly from being a successful Former. He is from United Kingdom. We have estimated Jim Wallace, Baron Wallace of Tankerness's net worth , money, salary, income, and assets.

Net Worth in 2023 $1 Million - $5 Million
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Net Worth in 2022 Pending
Salary in 2022 Under Review
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Source of Income Former

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Timeline

2018

In 2018 he was elected a Fellow of the Royal Society of Edinburgh.

2016

In September 2016, he stepped down as the Leader of the Liberal Democrat in the House of Lords, citing a desire to step back from "frontline" politics stating "I was first elected to the House of Commons 33 years ago. For 28 of these years, I have been on the frontline, including sixteen years in a leadership role, here in the Lords and in Scotland."

2013

He was elected unopposed, as the leader of the Liberal Democrats in the House of Lords on 15 October 2013, replacing Lord McNally, who had stepped down earlier in the month.

2010

In May 2010, he was appointed Advocate General for Scotland, one of the Law Officers of the Crown, who advise the government on Scots law.

2008

On 28 April 2008, it was announced that the new Lord Wallace would be a member of the Commission on Scottish Devolution, chaired by Sir Kenneth Calman, established by the Scottish Parliament to consider the future powers of the Parliament, including powers over finance. This is a distinct exercise from the SNP Government's national conversation.

In November 2008, Wallace received a lifetime achievement award in the Scottish Politician of the Year Awards.

2007

On 13 September 2007, it was announced that he was to be appointed to the House of Lords. He was subsequently created a life peer on 17 October 2007 taking the title Baron Wallace of Tankerness, of Tankerness in Orkney. Wallace also received an Honorary Doctorate from Heriot-Watt University in 2007

2005

On 9 May 2005, following the 2005 General Election, Wallace announced his intention to stand down as party leader and Deputy First Minister. He would remain as MSP for Orkney until the 2007 election, but would serve his time out as a backbencher. He ceased to be an MSP with the dissolution of the Scottish Parliament on 2 April 2007.

2003

Under his continued leadership, the Scottish Liberal Democrats' popularity grew steadily. After leading the party through the second Holyrood elections in 2003 Elections, again winning 17 MSPs but with a higher share of the vote, he led the party into a second coalition with Labour. The 2003 coalition negotiation process was widely seen as a more successful enterprise by the Liberal Democrats than the preceding one, with key aspects of Labour's proposals on anti-social behaviour dropped or limited, and with the promise of proportional representation for Scotland's 32 local councils.

2001

In the event, the Liberal Democrats did insist on the abolition of tuition fees after the inquiry reported in 2001, but in 1999, the delay was perceived to have been a compromise, and Wallace in particular became the focal point for extremely bitter criticism.

2000

Despite this, and other difficult moments, he and his party stayed firm and remained in power. Wallace established himself as a minister. On three occasions over the first term of the Parliament, he became Acting First Minister twice in 2000 due to at first the illness, and later the death, of the first First Minister Donald Dewar, and then again in 2001, after the resignation of Dewar's successor as First Minister, Henry McLeish. Each occasion lasted for only a few weeks.

1999

He led the Scottish Liberal Democrats in the first election to the new Scottish Parliament in 1999, himself winning the constituency of Orkney with 67% of the votes cast. This meant he served as a Member of both the Scottish and Westminster Parliaments for a time with a dual mandate, although like other MPs elected to Holyrood (such as John Swinney, John Home Robertson and Donald Gorrie) he stood down from Westminster at the 2001 General Election.

1997

When the Conservatives lost the 1997 Election, the New Labour government converted the Constitutional Convention's proposals into a White Paper and a referendum of the Scottish people was held on 11 September 1997. Wallace was a key figure in that campaign, arguing strongly for the proposal (alongside Labour and Scottish National Party leaders), although campaigning in the referendum was suspended for several days following the death of Princess Diana.

1995

Given the similarity of their preferred options, the Scottish Liberal Democrats had co operated with the Scottish Labour Party in the Scottish Constitutional Convention to produce a blueprint for a devolved parliament within the United Kingdom. Wallace continued this and the Convention's final proposals were published on St Andrew's Day 1995. A key part of this plan was the decision that this new parliament would be elected by a system of proportional representation (PR).

1992

In 1992, he was unopposed in becoming the new leader of the Scottish Liberal Democrats, succeeding Malcolm Bruce. Scottish politics at this time was dominated by the question of constitutional reform. There were few opportunities for legislation affecting Scots Law to be debated or effectively scrutinised at Westminster and, especially after the 1987 Election, with only ten Conservative MPs in Scotland but with a large majority in the House of Commons, it was argued that there was a democratic deficit in Scotland.

1988

Four years later, he would earn the Liberal nomination for the seat of Orkney and Shetland, the seat being vacated by former party leader Jo Grimond, and won election to the Parliament. At the time, it was extremely rare for Liberal candidates to successfully win elections to succeed former Liberal MPs, although many have since done so. He was to serve as the MP there for 18 years, occupying a number of front bench posts for the Liberal Party (and, from 1988 onwards, the Liberal Democrats), including Employment spokesman and Chief Whip.

1983

Wallace married Rosemary (née Fraser) a speech therapist in 1983: the couple has two daughters. Wallace is an elder of the Church of Scotland, attending St Magnus Cathedral in Kirkwall, Orkney.

1977

Wallace was educated at Annan Academy, a state secondary school in his hometown of Annan. Following school, he was accepted by Downing College, Cambridge, where he obtained a joint degree in economics and law, and was also rumoured to have been a member of the 'Three Kings' society. From there he returned to Scotland to study law at the University of Edinburgh, graduating in 1977. Based in Edinburgh, he practised as an advocate at the Scottish Bar, mostly in civil law cases.

1970

Wallace joined the then-Liberal Party in the early 1970s, but did not become very active in it until after completing his second degree. His first foray as a parliamentary candidate was in the constituency of Dumfriesshire in 1979, where he failed to win. He also stood, unsuccessfully, as the Liberal candidate in the South of Scotland constituency at the European Parliament elections of that year.

The Scottish Liberal Democrats were committed to an overarching principle of federalism throughout the United Kingdom, with the Scottish Labour Party advocating legislative devolution for Scotland and Wales, as had been attempted unsuccessfully in the late 1970s, the Scottish National Party seeking independence. However, the Conservative Government wanted no such change, and Scottish Secretaries, such as Ian Lang and Michael Forsyth, advocated internal parliamentary reforms at Westminster, such as holding more debates in the Scottish Grand Committee, which then consisted of all 72 MPs for Scottish constituencies.

1954

James Robert Wallace, Baron Wallace of Tankerness, PC, QC , FRSE (born 25 August 1954) is a British politician and former leader of the Liberal Democrats in the House of Lords. He was formerly Leader of the Scottish Liberal Democrats, Member of Parliament (MP) for Orkney and Shetland, Member of the Scottish Parliament (MSP) for Orkney, the first Deputy First Minister of Scotland in the Scottish Executive and Advocate General for Scotland.