I want to say a word about industrial relations in this industry. This takes my mind back nearly 20 years when, fresh from the University, inexperien… - Hugh Gaitskell

I have no doubt myself that the reason why Colonel Nasser acted in the way that he did, aggressively, brusquely, suddenly, was precisely because he wanted to raise his prestige in the rest of the Middle East. ... He wanted to challenge the West and to win. He wanted to assert his strength. He wanted to make a big impression. Quiet negotiation, discussion around a table about nationalising the Company would not produce this effect. It is all very familiar. It is exactly the same that we encountered from Mussolini and Hitler in those years before the war.

In recent years, hours of work have been reduced, holidays have been increased, the age of entry into employment has gone up, and above all, our general health and expectation of life as a people have markedly improved. It is a natural corollary of these changes that we should work longer and retire later.

You can be assured of this. There will be no increase in the standard or other rates of income tax under the Labour Government so long as normal peacetime conditions continue.