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" "As a nation we have two tasks; the one is to provide goods and services for our home needs, the other is to pay for the food and raw materials which we must get from abroad. Before the war we were rich; we owned money and railways and so forth abroad. The income from these helped to pay for our imports; but we sold these in order to help to win the war. We have therefore borrowed large sums from Canada and the United States to tide us over while we build up again, but when this money runs out we must pay for what we want from our own resources. To do this we must devote a far larger part than ever before of the wealth we produce to pay for imports.
Clement Richard Attlee, 1st Earl Attlee KG OM CH FRS PC (3 January 1883 – 8 October 1967) was Prime Minister of the United Kingdom from 1945 to 1951. Coming from an upper middle class background, Attlee was converted to socialism through working in the East End of London and became MP for Limehouse in 1922 (later Walthamstow West from 1950–55). He served as Deputy Prime Minister in Winston Churchill's war cabinet during World War II. He was elected Labour Party leader in 1935 and won a landslide victory in the 1945 election; his government put in place the welfare state including the National Health Service. Attlee was known for his laconic turn of phrase.
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Socialism is not the invention of an individual. It is essentially the outcome of economic and social conditions. The evils that Capitalism brings differ in intensity in different countries, but, the root cause of the trouble once discerned, the remedy is seen to be the same by thoughtful men and women. The cause is the private ownership of the means of life; the remedy is public ownership.
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Ever since the population of this little island grew large, trade has been its livelihood. We imported food and raw materials and paid for them by exports of coal and manufactures, by earnings from shipping and other services, and by interest on foreign investments. The first world war injured our position seriously, the second had far worse effects. When we stood alone in the second world war we threw all that we had into the battle... We sold our foreign assets. We reduced our production of civilian goods to a minimum. We lost nearly all our export trade and much of our shipping... We have, therefore, to face now before we have recovered from the effects of the war, and before our long-term plans have taken effect, the necessity of relying entirely on our own resources. This is a situation as serious as any that has faced us in our long history.