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

We will unilaterally get rid of Trident and cruise, and we will put Polaris into the arms talks with the Soviet Union and hope to phase it out in multilateral negotiations. If the Russians...fail to cut their nuclear forces accordingly it would be a new situation that we could consider at that time.

I don't believe the party gains when a member of the last two Labour governments stumps round the country blackguarding the record of the governments as a betrayal of the British working class, and describing the Prime Ministers through whom he accepted office as medieval monarchs who turned Labour MPs into their puppets. What nonsense! Tell that to Eric Heffer or Jeff Rooker or any of the many Labour MPs who've made my life as Chancellor so difficult from time to time, and I never objected to that. No! Those who betray the working class of Britain are those who forced us for two whole years to fight one another when we should have been fighting the Tories and through a sort of ideological narcissism are helping to keep in power the most brutal government in living memory, a government which has commit itself to destroy our trade union movement. We didn't lose the last election because we failed to follow the advice of these elitists. It was Maggie Thatcher who won the last election, not Mick McGahey. And we're losing votes today not to the Socialist Workers Party or the IMG but to David Steel and Roy Jenkins.

[Referring to the "Olive line"] That division makes federation impossible – inconceivable, in my opinion.