It is far better that more people should be in work, even if that means accepting lower wages on average, than that those lucky enough to keep their … - Denis Healey

By the end of next year, we really shall be on our way to that so-called economic miracle we need.

We are going through a period of uncertainty, but we are in a good position to strengthen ourselves and win back a majority. We have already got rid of much deadwood and Kinnock is winning back younger voters. He is politically intelligent, has character and courage; but he has never been a minister, lacks experience, and people know it. In troubled times, the electorate looks for a strong leader and Mrs Thatcher is seen as one.

The alternative to getting help from the IMF would be economic policies so savage I think they would produce riots in the streets, an immediate fall in living standards and unemployment of three million.