Keynesianism has failed. - Denis Healey

So long as the Soviet Union has nuclear weapons there have to be nuclear weapons somewhere in NATO to deter them from using them.

I wouldn't object strongly to leaving the EU. The advantages of being members of the union are not obvious. The disadvantages are very obvious. I can see the case for leaving – the case for leaving is stronger than for staying in.

The central problem of our economy for more than a generation has been that, although our productivity has grown more slowly than that of our competitors, we have seen annual wage increases of the same order as theirs. So our inflation has risen faster than in other countries and we have been able to maintain price competitiveness and full employment only by a series of devaluations which have further added to inflation and increased the pressure for excessive wage increases. In the era of North Sea oil it will be more difficult to devalue our currency to maintain price competitiveness. So unless we can keep wage increases close to the level of productivity increase we shall face rising unemployment and a further erosion of our industrial base.