The question is: can they now be prevented from taking back into their own hands the decision about their identity and their form of government which truly was theirs all along? I do not believe they can be prevented: for they are now, at a general election, provided with a clear, definite and practicable alternative, namely, a fundamental renegotiation directed to regain free access to world food markets and recover or retain the powers of Parliament, a renegotiation to be followed in any event by a specific submission of the outcome to the electorate, a renegotiation protected by an immediate moratorium or stop on all further integration of the UK into the Community. This alternative is offered, as such an alternative must be in our parliamentary democracy, by a political party capable of securing a majority in the House of Commons and sustaining a Government.

The British Labour Party has always been nationalist, if not insular, and...not just democratic but parliamentarian. But it is confrontation with the EEC that has presented the Labour Party with an uninhibited appeal to patriotism. Internationalist it may be in phrases; when it comes to policy, it is nationalist.

The connection between the control of inflation and unemployment is that if a substantial level of inflation is in operation and that level is reduced, then to that extent it is inevitable that transitionally unemployment should result. I say again: it is inevitable that controlling inflation, in the sense of reducing or eliminating it, causes transitional unemployment... It arises from the disappointment of the expectations which are maintained during a period of inflation.

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Public and private expenditure are not the same in their financial and economic effects. There is a very important difference between your expenditure and mine and the Government's expenditure. If you and I intend to spend but find we have not enough money, we have no choice but to think better of it. Not so the Government; if they are short, they can either make you and me pay more in taxation, or else they can actually create additional money... For politicians to increase public expenditure is easy and sweet; to refrain from increasing it, let alone to reduce it, is hard and uncomfortable. Thus it is that government intentions to spend get carried through, irrespective of whether this results in money being created faster than goods and services—irrespective, in other words, of the inflation which ensues. That is why Lord Cromer was perfectly right in saying that a high level of public expenditure causes inflation.

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Here is a decent, ordinary fellow Englishman, who in broad daylight in my own town says to me, his Member of Parliament, that his country will not be worth living in for his children. I simply do not have the right to shrug my shoulders and think about something else. What he is saying, thousands and hundreds of thousands are saying and thinking – not throughout Great Britain, perhaps, but in the areas that are already undergoing the total transformation to which there is no parallel in a thousand years of English history.

It is a profound fallacy to suppose that there is anything to be regretted in a fall in the exchange rate. A fall in the exchange rate mirrors one or both of two things. It either mirrors a decline in our real terms of trade, or else, or also, it mirrors differential inflation in this country compared with inflation in the other countries with whose currencies we are comparing the exchange value of our own. On neither of those grounds is a fall, if there be a fall, in the exchange rate a sign that something is wrong with us or that the fall ought to be suppressed and forcibly reversed. If a fall in the exchange rate reflects a fall in the real terms of trade—if it really means that an item we are producing at the moment exchanges in Toronto or Timbuctoo for less than it formerly did—that is due to an alteration in the economic pattern of the world as a whole. The sooner and the more accurately we know about it, the sooner and the more accurately we shall adapt and alter our behaviour and productive efforts to fit those changes in the real world of which, in the end, we are the servants and not the masters, whether under a Labour Government or under any other sort of Government in this country.

The reality of the situation is obscured when population is expressed as a percentage proportion taken over the whole of the United Kingdom. The ethnic minority is geographically concentrated, so that areas in which it forms a majority already exists, and these areas are destined inevitably to grow. It is here that the compatibility of such an ethnic minority with the functioning of parliamentary democracy comes into question. Parliamentary democracy depends at all levels upon the valid acceptance of majority decision, by which the nation as a whole is content to be bound because of the continually available prospect that what one majority has decided another majority can subsequently alter. From this point of view, the political homogeneity of the electorate is crucial. What we do not, as yet, know is whether the voting behaviour of our altered population will be able to use the majority vote as a political instrument and not as a means of self-identification, self-assertion and self-enumeration. It may be that the United Kingdom will escape the political consequences of communalism; but communalism and democracy, as the experience of India demonstrates, are incompatible. That is the spectre which the Conservative party's policy of assisted repatriation in the 1960s aimed to banish; but time and events have swept over and passed the already outdated remedies of the 1960s. We are entering unknown territory where the only certainty for the future is the relative increase of the ethnic minority due to the age structure of that population which has been established.

That power and that glory have vanished, as surely, if not as tracelessly, as the Imperial fleet from the waters of Spithead—in the eye of history, no doubt as inevitably as “Nineveh and Tyre”, as Rome and Spain. And yet England is not as Nineveh and Tyre, nor as Rome, nor as Spain. Herodotus relates how the Athenians, returning to their city after it had been sacked and burnt by Xerxes and the Persian army, were astonished to find, alive and flourishing in the blackened ruins, the sacred olive tree, the native symbol of their country. So we today at the heart of a vanished empire, amid the fragments of demolished glory, seem to find, like one of her own oak trees, standing and growing, the sap still rising from her ancient roots to meet the spring, England herself.

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Now, at present Britain has no V.A.T., and the questions whether this new tax should be introduced, how it should be levied, and what should be its scope, would be matters of debate in the country and in Parliament. The essence of parliamentary democracy lies in the power to debate and impose taxation: it is the vital principle of the British House of Commons, from which all other aspects of its sovereignty ultimately derive. With Britain in the community, one important element of taxation would be taken automatically, necessarily and permanently out of the hands of the House of Commons...Those matters which sovereign parliaments debate and decide must be debated and decided not by the British House of Commons but in some other place, and by some other body, and debated and decided once for the whole Community...it is a fact that the British Parliament and its paramount authority occupies a position in relation to the British nation which no other elective assembly in Europe possesses. Take parliament out of the history of England and that history itself becomes meaningless. Whole lifetimes of study cannot exhaust the reasons why this fact has come to be, but fact it is, so that the British nation could not imagine itself except with and through its parliament. Consequently the sovereignty of our parliament is something other for us than what your assemblies are for you. What is equally significant, your assemblies, unlike the British Parliament, are the creation of deliberate political acts, and most of recent political acts. The notion that a new sovereign body can be created is therefore as familiar to you as it is repugnant, not to say unimaginable, to us. This deliberate, and recent, creation of sovereign assemblies on the continent is in turn an aspect of the fact that the continent is familiar, and familiar in the recent past, with the creation of nation states themselves. Four of the six members of the Community came into existence as such no more than a century or a century and a half ago – within the memory of two lifetimes.

Now, there is one set of market forces, supremely important to Britain, which lie outside the reach of even a Socialist government. These are world market forces. Whatever government we have in this country, the rest of the world will only buy from us what it cannot get elsewhere cheaper and better. If our prices are high or our goods not the right ones, it will be no use saying: “Oh, but we have decided not to be ruled by market forces beyond our control.” The rest of the world would laugh in our faces. And what sheer nonsense and utter hypocrisy it is for a country dependent on selling a fifth of its product abroad to pretend not to “be ruled by market forces”!

The Tory principle is the opposite: to trust the people. This has been expressed in practical terms in our actions in the last twelve years. We dismantled and abolished the economic controls, licensing, rationing and powers of direction inherited from the war and post-war Socialism; we restored a market for savings and abandoned the rigging of artificial rates of interest, which had been a fruitful cause of inflation; we imposed on the nationalised industries, apart from those restored to the free economy, the discipline of making comparable profits with what similar investments elsewhere would produce, and we undertook a major surgical operation on the railways to enable them also to earn profits; in our trade policy we sought the widest and most competitive markets for our exports... in taxation policy we have aimed at leaving to the individual earner and the individual firm the free disposal of as large a proportion as possible of their income or profits; finally there is our determined and increasingly successful effort to keep for our money that stability of value which enables people to take their own decisions about spending and saving in terms which have a meaning.

In 1940 the voice which cried "Speak for England" came from a Tory bench. It comes from there no longer... The Conservative Party declared that the nation state as exemplified by an independent and self-governing United Kingdom was obsolete. Thereby for me the Conservative Party ceased to be the Conservative Party which I thought I knew.

In old age it is no longer possible to credit the sheer, almost physical agony which is caused in youth by the passage of time, when the turning of spring into summer arouses pain as lively as the pain of toothache. The succession of the seasons is like a recurrent inescapable catastrophe, which sweeps away what is young and beautiful, and what is beautiful because it is young.

The world has recently been treated for nearly a decade to the unusual spectacle of a great empire deliberately taking every possible step to secure its own destruction, because its citizens were so obsessed by prejudice, or incapable of thinking for themselves, as never to perform the few logical steps necessary for proving that they would shortly be involved in a guerre à outrance, which could be neither averted nor escaped.