On 5 September, when the TUC unanimously rejected wage restraint, it was the end of an era, and all the financiers, all the little gnomes in Zürich and other finance centres about whom we keep on hearing, had started to make their dispositions in regard to sterling.
The government have only a small majority in the House of Commons. I want to make it quite clear that this will not affect our ability to govern. Having been charged with the duties of Government we intend to carry out those duties.
The Britain that is going to be forged in the white heat of this revolution will be no place for restrictive practices or outdated methods on either side of industry.
From now on, the pound abroad is worth 14 per cent or so less in terms of other currencies. That doesn’t mean, of course, that the Pound here in Britain, in your pocket or purse or in your bank, has been devalued.
If you rattle along at great speed everybody inside is too exhilarated or too seasick to cause any trouble. But if you stop everybody gets out and argues about where to go next.
