"In Britain, Thatcher's predecessor, Labour's James Callaghan, explained to party members in 1976 that they used to believe recessions could be ended through higher spending and more inflation: ‘I tell you now, in all candour, that that option no longer exists,’ and in so far as it ever did exist, it was only by ‘injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step.’ Thatcher’s fight against the unions to close 115 loss-making and environmentally damaging coal mines made her admired and hated, but did you know that the two previous Labour prime ministers, Callaghan and Harold Wilson, closed no less than 257 coal mines in total?"
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Prime Ministers of the United KingdomPoliticians from EnglandAtheists from EnglandBritish peersEconomists from England
Original Language: English
Available Languages (1)
Sources
Johan Norberg, The Capitalist Manifesto: Why the Global Free Market Will Save the World (2023)
https://en.wikiquote.org/wiki/James_Callaghan
Revision History
No revisions have been submitted for this quote.
Categories
James Callaghan
Leonard James Callaghan, Baron Callaghan of Cardiff (27 March 1912 – 26 March 2005), commonly known as Jim Callaghan, was a British politician who served as Prime Minister of the United Kingdom from 1976 to 1979 and Leader of the Labour Party from 1976 to 1980. Callaghan is the only person to have held all four Great Offices of State, having served as Chancellor of the Exchequer from 1964 to 1967, Home Secretary from 1967 to 1970 and Foreign Secretary from 1974 to 1976. He was a Member of Parlia
84 quotes on TrueQuotesView all quotes by James Callaghan →
Related Quotes
"Never let me hear anyone say again that a Socialist State cannot provide outlets for those with initiative. The rewar…"
"Peace-or-war, not cost-of-living, was the most important issue at the election. He did not believe that peace with St…"
"There could be no democratic and independent Socialist Party in this country unless they aligned themselves with othe…"
"I have not the slightest doubt that the economic measures and the Socialist measures which one will find in countries…"
"We should be aiming in the latter part of the 1960s for a 5 per cent. and then a 6 per cent. growth rate. Only then s…"
"I hate putting up taxes."
"We have had a tremendous battle over the past 12 months. Sterling is safe. That battle is won."
"If we achieve our target, 1967 will be a different year from the last two, a year in which we will begin to move forw…"
"I sum up the prospects for 1967 in three short sentences. We are back on course. (Loud Ministerial cheers and Opposit…"
"Millions of people in Britain must have been very surprised to hear that the language of Chaucer, of Shakespeare and …"