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The borrowing requirement was 'terrifying'. He just had to cut back public expenditure. The Social Contract wasn't working. Inflation was getting out… - Denis Healey
" "The borrowing requirement was 'terrifying'. He just had to cut back public expenditure. The Social Contract wasn't working. Inflation was getting out of control.
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About Denis Healey
Denis Winston Healey, Baron Healey PC (30 August 1917 – 3 October 2015) was a British Labour Party politician who served as Secretary of State for Defence from 1964 to 1970 and Chancellor of the Exchequer from 1974 to 1979. He was a Member of Parliament for 40 years (from 1952 until his retirement in 1992) and was the last surviving member of the cabinet formed by Harold Wilson after the Labour Party's victory in the 1964 general election.
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Alternative Names:
Denis Winston Healey, Baron Healey
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Denis Winston Healey
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Denis Winston, Baron Healey
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Additional quotes by Denis Healey
[Margaret Thatcher] wraps herself in the Union Jack and exploits the sacrifices of our soldiers, sailors and airmen in the Falkland Islands for purely party advantage – and hopes to get away with it. It wasn't a very credible approach from the word 'go' because this Prime Minister, who glories in slaughter, who has taken advantage of the superb professionalism of our armed forces, is at this very moment lending the military dictatorship in Buenos Aires millions of pounds to buy weapons – including weapons made in Britain – to kill British servicemen. That is an act of stupefying hypocrisy.
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No country would suffer more than Britain from an international trade war, since we depend more on world trade than any of our competitors. That is why we cannot accept the proposal made in some quarters that we should seek to solve our problems through imposing import controls for a long period over a whole range of manufactured consumer goods.
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