The resignation of Tony Blair as British Prime Minister and the transition from Bush to Obama in the US mark the end of the second revival of the US–UK special relationship. The classic era of the special relationship began under the Labour government in the 1940s, though it was Winston Churchill who inspired the concept. It ended with the resignation of Harold Macmillan in 1963. Margaret Thatcher revived close personal relations with the US President as a guiding principle of UK foreign policy and Tony Blair successfully revived them again, even though the end of the Cold War had transformed the framework of transatlantic relations. Over the past 60 years US–UK relations have embedded specific security arrangements which have persisted, largely unquestioned, through the ups and downs of political relations at the top: close links between the two countries' armed forces; access to defence technology and procurement; intelligence ties through the UKUSA Agreement; a semi‐independent nuclear deterrent and provision of military bases in the UK and its overseas territories. Public debate on the costs and benefits of these links has been limited; successive governments have discouraged a wider debate. The Obama administration enters office with few of the personal ties to Britain and to English culture, which have underpinned the special relationship. Earlier US administrations have approached relations with the UK from the perspective of US interests, while many British political leaders have felt—and have hoped to find in Washington—a sentimental attachment to Anglo–American partnership. British foreign policy would benefit from a reassessment of the structures of US–UK relations in terms of British interests, costs and benefits.