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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).
Also Known As
Alternative Names:
Richard Austen Butler
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R. A. Butler
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Additional quotes by Rab Butler
We must understand that no party in the country can with success base itself on or identify itself with one social element or class. To be successful we have still to reorganize from top to bottom the social structure on which our party rests. We agree that in the modern world great extremes of poverty and wealth shall be replaced by an infinite variety of plenty.
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.
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