Oh, Socialism! I haven't used that word for years. If you mean nationalizing the means of production, distribution and exchange... That leads to disa… - Roy Jenkins

First, there is really no sign at all of any significant reduction in unemployment without a major change in policy...Unemployment has probably levelled out but at a totally unacceptable figure. Secondly, contrary to what the Secretary of State said, the post-oil surplus prospect—not merely the post-oil prospect, because the oil will take a long time to go, but the surplus, the big balance of payments surplus, which is beginning to decline quite quickly—still looks devastating...our balance of payments is now overwhelmingly dependent on this highly temporary and massive oil surplus. Our manufacturing industry is shrunken and what remains is uncompetitive...We have a manufacturing trade deficit of approximately £11 billion, all of which has built up in the past three to four years. This is containable by oil and by nothing else. Invisibles can take care of about £4 billion or £5 billion but they cannot do the whole job. As soon as oil goes into a neutral position we are in deep trouble. Should it go into a negative position, the situation would be catastrophic...To sell off a chunk of capital assets and to use the proceeds for capital investment in the rest of the public sector might just be acceptable. However, that is not what is proposed, and what is proposed cannot be justified on any reputable theory of public finance; and when it is accompanied by a Minister using the oil—which might itself be regarded as a capital asset; certainly it is not renewable—almost entirely for current purposes, it amounts to improvident finance on a scale that makes the Prime Minister's old friend General Galtieri almost Gladstonian.

It would be a mistake to think...that by what we are doing tonight we are giving a vote of confidence or congratulation to homosexuality. Those who suffer from this disability carry a great weight of loneliness, guilt and shame. The crucial question, which we are nearly at the end of answering decisively, is, should we add to those disadvantages the full rigour of the criminal law? By its overwhelming decisions, the House has given a fairly clear answer, and I hope that the Bill will now make rapid progress towards the Statute Book. It will be an important and civilising Measure.

I think that British politics, as at present constituted do make it difficult for people who are essentially men of the centre—I am a man of the left centre, but I've never pretended to be terribly far away from the centre of British politics. ... The gladiatorial nature of the House of Commons, with two sides lined up against each other, puts a premium on disagreement rather than upon agreement. This is inclined on both sides to give a greater strength to the wings rather than to the centre. ... there are appalling economic problems facing this country at the present time...I don't think it's terribly useful, terribly relevant or terribly convincing just to engage in an endless game of tu quoque. You've got to think of something better than 'It's your fault',—'No, it's not, it's your fault'. There's a sterility in this which is a danger to the country.