What we stint in materials we squander in lives... What you spare in money you spill in blood. - David Lloyd George

The outlook had become still more threatening since the Pact of Munich. So far from that notorious surrender purchasing appeasement, it had encouraged the dictators to a greater display of insolence. ... Three years ago we discovered that our armaments in essentials for our defence had fallen far behind those of Germany, Italy, and Japan. It was a piece of criminal negligence. ... During the past two years the dictators had, through our lack of foresight, through the gross stupidity of our national leaders, cleverly but relentlessly succeeded in placing the British Empire and France in the most dangerous strategical position which they had ever been situated.

They have got rid of me for a time...but it will only be for a time. I am out to fight in exactly the same cause to which I have consecrated my strength during the whole of my life—the cause of the people, the downtrodden and the oppressed. I hope that the people will stand with me in fighting the great battle of liberty and progress.

The truth is that we have got our way. We have got most of the things we set out to get. If you had told the British people twelve months ago that they would have secured what they have, they would have laughed you to scorn. The German Navy has been handed over; the German mercantile shipping has been handed over, and the German colonies have been given up. One of our chief trade competitors has been most seriously crippled and our Allies are about to become her biggest creditors. That is no small achievement. In addition, we have destroyed the menace to our Indian possessions.