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" "But this is not merely a question of our political and military posture. It also affects our economic policy. We have to live and trade in an open world. We cannot make ourselves a closed society in which we can only keep men and capital by erecting a ring fence around ourselves so that they have to stay. ... To sustain it [our overseas deficit]—and the only alternative would be a drastic cut in our standard of living and a considerable contribution to the dislocation of world trade—we shall have to borrow and go on borrowing a great deal from abroad. To pretend that you could get this money in while retreating into a siege economy would be to live in a world of dangerous phantasy.
Roy Harris Jenkins, Baron Jenkins of Hillhead OM PC (11 November 1920 – 5 January 2003) was a British politician who served as the sixth president of the European Commission from 1977 to 1981, having previously been one of the primary proponents of British entry into the European Economic Community. At various times a Member of Parliament (MP) for the Labour Party, Social Democratic Party (SDP) and the Liberal Democrats, he was Chancellor of the Exchequer and Home Secretary under the Wilson and Callaghan Governments. He initially identified as a democratic socialist, and later as a social democrat and centrist. As Chancellor of the Exchequer, he pursued a tight fiscal policy to control the inflation of the pound sterling. As Home Secretary, he was responsible for abolishing capital punishment and decriminalizing abortion, homosexuality, and divorce. He ran in the 1976 Labour Party leadership election to become Prime Minister, but was defeated by James Callaghan and briefly retired from British politics to serve as President of the European Commission. He returned to Britain to help found the Social Democratic Party, which formed an alliance with the Liberal Party under David Steel and was intended as a centrist alternative to the Conservative Party under Margaret Thatcher and the Labour Party under Michael Foot. However, he resigned as Party Leader after the SDP-Liberal Alliance failed to outpoll the Labour Party in the 1983 general election.
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It is not much good talking about fundamental and irreversible changes in our society and being content with a 38 per cent Labour voting intention. ... Democracy means that you need a substantially stronger moral position than this to govern effectively at all, let alone effecting a peaceful social revolution. The programme we put forward must be capable of being carried out in what may well be difficult economic circumstances.
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...it must be clear that a future Labour Government intends to keep Britain fully part of the Western community of nations. ... Today there is a greater danger of that community falling apart than at any time since 1947. ... I myself believe that the threat of such a breakup would be greatly exacerbated by our withdrawal from Europe. ... There is no future for an isolationist Britain. If anyone wants a Britain poised uneasily between the Western alliance and the Communist block they can in the immortal words of Mr Sam Goldwyn "include me out".