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The more effective our own action to deal with our balance of payments deficit, the higher will be the [exchange] rate [of sterling], and the lower t… - Rab Butler
" "The more effective our own action to deal with our balance of payments deficit, the higher will be the [exchange] rate [of sterling], and the lower the cost of living. On the other hand, if we fail to deal with our internal problems effectively, and fail to organise the economy in a way which releases sufficient resources for exports, the rate will fall and the cost of living will rise accordingly. ... When we had gold reserves (and American aid) to take the impact of our balance of payments deficit, it was possible to insulate the economy from the failure to pay its way. This is no longer possible, and failure to pay our way will be felt by every family in the country in a rise in the cost of living.
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About Rab Butler
Richard Austen Butler, Baron Butler of Saffron Walden, KG, CH, DL, PC (9 December 1902 – 8 March 1982), also known as R. A. Butler, was a British Conservative politician. Butler was passed over twice as a potential Prime Minister, but did serve in the other three Great Offices of State (Chancellor of the Exchequer, Home Secretary and Foreign Secretary).
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Alternative Names:
Richard Austen Butler
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R. A. Butler
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Additional quotes by Rab Butler
There are great economic opportunities ahead of us. If we are sensible, we can have rising production and rising standards of living without constantly rising prices. Why should we not aim to double our standard of living in the next 20 years, and still have our money as valuable then as now? The faster we modernize and expand our productive capacity, the more we shall be able to increase the national wealth.
I had derived from Bolingbroke an assurance that the majesty of the State might be used in the interests of the many, from Burke a belief in seeking patterns of improvement by balancing diverse interests, and from Disraeli an insistence that the two nations must become one. If my brand of Conservatism was unorthodox, I was committing heresy in remarkably good company.
In the past three years we have burned our identity cards, torn up our ration books, halved the number of snoopers, decimated the number of forms and said good riddance to nearly two-thirds of the remaining wartime regulations. This is the march to freedom on which we are bound. And the pace must quicken as we go forward...Within the limits of law and social justice, our aim is freedom for every man and woman to live their own lives in their own way and not have their lives lived for them by an overweening State.
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