The Government know perfectly well that, in order to cope with the rising inflation and disastrous trade balance, it is indispensable to budget for a… - Enoch Powell

[I]t is not speculation, leads and lags, and the rest which cause the trouble. It is their impact against fixed exchange rates. With a floating exchange rate, speculation is not only harmless; it actually does its work, of moving the rate to correspond accurately with the net total of all anticipations. Speculation only becomes harmful, it can only do baleful work, when it is confronted with a blatantly false assertion made and attempted to be sustained by Governments in terms of a fixed parity... [I]n a world of economic change and in a world where the major monetary powers are likely for a long time to come to be pursuing their own different policies, the nearest approach to stability we can have is by allowing those changes to be reflected in rates which are free to move. We ought now, at last, to abandon the illusion that we can call change to a halt and live in a world of our own pretence, and instead to provide, by a sensitive and continuous recognition of changing reality, at least that stability which is available.

[T]o the extent that collective bargaining does succeed in distorting costs, it must rank among the obstacles to improvement in the standard of living of the British worker; and the more effective it is, the greater the obstacle. The British industrial worker today works longer hours for less real wages than his counterpart in West Germany, and that will soon be true, if it is not already, of his counterparts in a number of other European countries. This is not because the British trade unions are not strong enough, any more than it is because the monopolies and restrictive practices among buyers and sellers of goods and services are not tight enough. It is because industrial effort is being more efficiently used elsewhere than here. This is what gives the immediacy and urgency to this whole question of the trade unions. The people of this country cannot afford to allow themselves the luxury of practices and habits, however encrusted with sentiment and benevolent superstition, which place obstacles in the way of more efficient use of our resources.

I consider there is no surer touchstone of the civilisation of a community than the manner in which it cares for its mentally afflicted members; and among that group those whose mental affliction is of a kind which peculiarly excites fear and aversion are the most acid test of all. It is incumbent on the Minister of Health to see to it that this country has no reason to be ashamed of its performance in that test.