Artscribe magazine closes. Sarah Lucas' first solo show Penis Nailed to a Board at City Racing. Young British Artists 1 at the Saatchi Gallery. House repossessions at an all-time high. Kate Moss emerges as a super-model.
Conservatives win general election.
Personal bankruptcies increase by 80 per cent over previous year. Tracy Emin and Sarah Lucas open The Shop in Bethnal Green Road. Eltham schoolboy Stephen Lawrence is murdered in a racially motivated attack. Unemployment reaches 3 million. IRA bomb explodes in the City.