The impact of Suez - was it a major turning point?

Yes

• Britain faced an economic crisis through their actions - the pound became worth much less on international money markets. 
• Britain's relationship with other countries was hindered, especially among the Arabs. 
• Showed for the first time the importance of using nuclear weapons on another country as a threat.
• Proved that the UK could not intervene militarily without the support of the United States. 
• Britain was seen as an unreliable ally in the eyes of the US. 
• Colonies were given confidence to rebel against British rule - decolonization was speeded up as people realised that Britain was no longer backed up by a strong military force. 
• Showed that the Commonwealth would not always support Britain.
• Suez brought home to the public the extent in which their nation has declined - Britain's self image as an imperial superpower would never be the same again. 
• Eden lying to parliament (he claimed he did not know about Israel's involvement in Suez) even had an impact as it exacerbated the collapse in deference in Britain. 
• French support in Britain was harmed by UK withdrawal. 

No

• Promises had already been made to the Colonies concerning their independence before Suez.
• African independence movements had far more impact in decolonization than the Suez crisis. 
• The Conservatives won the next general election - showed that the Crisis did not have a major impact on the British people. 
• The "Special Relationship" between the USA and Britain was repaired by JFK and Macmillan. 
• Pride of the British Empire still remained among politicians and the public.