The Treaty of Rome was tailor-made to support French agriculture and German manufactures. It is by no means ideal for Britain's future trading arrang… - James Callaghan

For too long, perhaps ever since the war, we postponed facing up to fundamental choices and fundamental changes in our society and in our economy. This is what I mean when I say we have been living on borrowed time. For too long this country – all of us, yes this Conference too – has been ready to settle for borrowing money abroad to maintain our standards of life, instead of grappling with the fundamental problems of British industry. Governments of both parties have failed to ignite the fires of industrial growth in the ways that countries with very different political and economic philosophies have done.

A leader has to appear consistent. That doesn't mean he has to be consistent.

Meantime I say to both sides of industry, 'Please don't support us with general expressions of good will and kind words, and then undermine us through unjustified wage increases or price increases. Either back us or sack us.'