"Parliament" is a word of magic and power in this country. We refer to "parliamentary sovereignty." We live under the sovereignty of the Crown in Par… - Enoch Powell

Of course we didn't know how distinguished we were. We didn't know that others were to get the Nobel Prize and not share it with us for the monetarist theory. But, of course, men are not primarily activated by economic motives and I have always therefore assigned free economics a place only, a subordinate place, inside the whole of politics. And, in speech after speech to my countrymen, I've said: "Now, if you don't care for this or that, then that's your choice. Go your ways, but if what you are wanting is this or that economic result, then this is the way to get it." But I have never regarded economics as other than subordinate in the scale of values and, in recent years, and particularly vis-à-vis this government, which I think is sometimes too materialistic, too ready to establish what it calls competitive criteria.

Q: Who caused the inflation? A: The Chancellor of the Exchequer. Q: How did he cause it? A: By putting a flood of new money into circulation. Q: Why did he do that? A: To prevent the exchange rate of the pound rising last year. Q: Why did he want to stop it rising? A: To keep level with the Deutschmark. Q: What for? A: To make it easier to join the EMS.

The Government know perfectly well that, in order to cope with the rising inflation and disastrous trade balance, it is indispensable to budget for a severe increase in taxation and a further reduction in the rate of growth of public expenditure. They have the majority and the authority to do this now. They do not need an election in order to act in the national interest. Nor do they need an election to get the country back to full-time work. Neither the miners nor the other trade unions have broken the law or threatened to break it. There is nothing sacrosanct about stage 3 or the Government's interpretations of it. A settlement will have to be found in the mining industry – and in every other industry – which will get the necessary labour into the necessary jobs.