Chancellors Of The Exchequer

"The trouble about Europe is what I call the Olive Line, the line below which people grow olives. North of the Olive Line people pay their taxes and spend public money very cautiously. South of it they fail to pay their taxes at all, but spend a lot of public money."

"[Referring to the "Olive line"] That division makes federation impossible – inconceivable, in my opinion."

"Denis Healey was a great champion for social justice, in and out of government, a stalwart of the Labour Party, a true patriot who fought for and cared deeply about his country and an extraordinary and vibrant character. ... He steered the Labour government and the country through some of the most difficult economic times; and in winning the deputy leadership of the Labour Party in 1981, he probably saved the Labour Party as an instrument of government and social change. All of us in the Labour Party owe him a huge debt. Britain has lost a dedicated and faithful public servant."

"I always had a sneaking affection for Denis Healey, even at his most outrageous. I liked his rumbustiousness, a quality which adds richness to politics provided it is combined with intellectual insight and personal incorruptibility, as it was in Denis's case. He is an instinctive bully, but bullies always bring out the best in me and I enjoyed our clashes in Cabinet. His autobiography is a masterly piece of work and, as I read it, I chuckled over the cunning way he skates over his confessions of past mistakes, leaving the impression that they did not adversely affect events, though of course they did."

"Denis Healey was a giant of the Labour Party whose record of service to his party and his country stands as his testament. ... His wit and personality transcended politics itself, making him one of the most recognisable politicians of his era. Speaking personally, we had many interesting conversations when I was first elected to Parliament in 1983 and I found him a decent and very knowledgeable man who I enjoyed engaging with, particularly in his work as shadow foreign secretary."

"The art of John Dryden would be required to encompass the complex personality of the ambitious and many-sided politician who, in 1974, became Chancellor of the Exchequer. The most cultured of Chancellors, he could also be the greatest bully. Perhaps the most brilliant of Chancellors intellectually, he was possessed also of a common touch which attracted a wider public even when it most disliked his actions. His various disguises could confuse. A friendly commentator might attribute to him a deep seriousness worn lightly, sometimes perhaps flippantly. The flippancy could have been diagnosed as a defence mechanism for a man whose outward ebullience concealed inner doubts. Or it could have been interpreted as an expression of total self-confidence. The friendly commentator would have detected great courage, normally kept in reserve, as though courage was only for the decisive moment and it would be tedious to fight too hard when the issues appeared not of the first importance. A less friendly commentator might have criticised the flippancy, encountered not just in words but in deeds, as indicative of irresponsibility. Certainly it was not always to the taste of those who worked for him. By civil servants in the Treasury, he came to be admired for the excitement he generated and feared for his penetration of official work less than first class. But by those, Ministers and officials, who could not take his dismissive rudeness, he might even be hated. He came to dominate the international community of Finance Ministers by his intellectual brilliance and his committee skills."

"He had a clear idea of the objectives he wanted to secure, and mostly, from a socialist point of view, they were good ones. He would listen; he could be endlessly patient in negotiations, which is the only way to negotiate with would-be friends or allies; he had an irrepressible intellectual curiosity deriving partly from his interest in matters which touched only the fringe of politics."

"The greatest interest to economists of the Budget strategy will be in the way the Chancellor [Healey] has finally and totally broken with postwar economic orthodoxy, abandoned full employment as the sovereign purpose of the Budget, and decided that future stability of both prices and the foreign balance depended on achieving a better balance of the Budget itself."

"He has long carried light ideological baggage on a heavy gun carriage."

"He didn't suffer fools gladly or, indeed, at all. That partly explains why he was never leader of the party despite having rich political talent. He was brilliant in the Commons, an ebullient campaigner in the country, and his piano-thumping performances in by-election sing-songs were – like him – loud, lively, and uplifting. ... To know Denis Healey was to enjoy him."

"Healey is a strong fighter. He is intellectually gifted and capable of prodigious acts of endurance, but his aggressive approach is said to have alienated some of his potential supporters. In the 1976 leadership election he came a poor third behind Michael Foot and Jim Callaghan. By 1980, after a year of conflict and division within the Labour Party, he was portrayed by the left as one of those principally responsible for ignoring party policy. He looked increasingly, as one correspondent said, like a whale stranded on a beach being attacked by minnows."

"After the 1980 conference, at which the electoral college was accepted in principle, Healey refused to join the Gang of Three in meeting the left head on. He is a politician of the old school who prefers dining with, and talking to, trade union general secretaries and other leading figures in the Labour movement, in the hope that they will control the votes of their members, to involving himself directly in the day-to-day battle within the constituencies... Healey appeared to be in a safe position to hold the deputy leadership and stay above the battle. David Owen, Shirley Williams and William Rodgers seemed increasingly likely to start a new political party, but Healey appeared to have accepted his defeat [in the 1980 leadership election] and gave no indication that he would be prepared to join them. He also seemed unwilling to take on the left within the party, and his fighting instincts were not roused until Tony Benn began to make unexpected headway in the attempt to win the deputy leadership from him [in the 1981 deputy leadership election]."

"The only hope was Denis Healey. ... But my hopes were shortlived. Soon after the party conference in October [1980], it became evident that Denis Healey, whether he became leader or not, was not going to fight head-on the unilateralist and anti-European policy of the Labour Party. He was not going to make the party face up to the electoral incredibility of being both in effect anti-Nato and anti-European. ... So, Denis Healey was not going to fight the left. That became clear. Denis does not have good political judgement. In that sense he is not a good politician. He has a first-class brain, he is extremely well informed and he's got good judgement about many things, but he's not been a very good judge of feelings and moods within the Labour Party. I think he calculated that by taking the soft approach, the emollient approach, he could woo the left and win the leadership and, having secured it, would then fight for his policies. But he wasn't going to fight beforehand."

"Of all the senior politicians I have known, Denis was by far the most loyal to decisions he did not like, to colleagues he served or who served him, to Labour Party policy he disliked and above all to his wife Edna and his family. This quality of his, more than any other, means that I have always measured Denis by a stringent but more generous yardstick than I use for any other politicians. He also has great style. I can hear him, as if it were yesterday, getting up from a dinner at Admiralty House and announcing with chuckle that he was off "to vote for the people against privilege". It was not just a joke. There was always a hint of "Denis the Menace" against privilege, and justly so. For all his faults he is a big man and I have been lucky to learn from him and to know him."

"On Wednesday 10 March [1976] members of the Tribune group of left-wing MPs launched their attack by abstaining on a motion from the Chancellor to 'level off' total public expenditure from April 1977... There were bitter exchange among MPs... Tribunites hurled vulgar abuse. Denis Healey...responded with characteristic vigour. 'Stalinist! Stalinist!' Eric Heffer shouted at him. 'Bastard! Bastard!' echoed Russell Kerr. Healey's own version is that, returning to the Chamber from the voting lobby, 'one of the rebels used demotic language to cast aspersions on my paternity, so I praised his virility in similar language several times.' According to one witness, the Chancellor's precise words to his critics were: 'Go and fuck yourselves.'"

"The Chancellor of the Exchequer has been—I know this because I have watched him over the years—a monetarist much longer than anyone has ever suspected of him. I used to listen with enjoyment to his speeches in the years 1972 to 1974, and I would shake my head and say to myself, "He will be a good Chancellor of the Exchequer, for he understands the real causes of inflation." Oh, he understands them all right."

"The right hon. Gentleman will be known for ever as the only Chancellor in the post-war period who brought this country to the brink of bankruptcy."

"[T]he defence budget is one of the very few elements of public expenditure that can truly be described as essential. The point was well-made by a robust Labour Defence Minister, Denis (now Lord) Healey, many years ago: ‘Once we have cut expenditure to the extent where our security is imperilled, we have no houses, we have no hospitals, we have no schools. We have a heap of cinders.’"

"Denis is a colourful, ebullient personality, combative and life-loving, with an unusually rich hinterland outside politics. He is an exceptionally gifted photographer...and is immensely knowledgeable about music... Yet he was never a serious candidate for the leadership. He was unpredictable, behaving rather like a strongly served tennis ball hitting a soft spot and then bouncing sideways. You could never be sure what he might do. He was a loner, enjoying his family and a few close friends, mainly not politicians, so predictions about his behaviour from colleagues were not particularly helpful. He had been brusque with many of them, or scorched them with his brilliant, brutal humour. He was not a popular figure in the Commons tea room. I liked him very much."

"He said things the way they were and you couldn't stop him from doing so. ... He was a mixture of incredible courage, lack of tact and not very good at playing in a way that would give him the advantage as distinct from party or the country. It was an impressive performance and I shan't forget it."

"The object of Socialism is not to render the individual capable of living on his personal resources. That is the theory of radical individualism. Its object is to create in him a greater and greater sense of his dependence upon the state, and, at the same time, to inculcate in him the conviction that he is a part of it and that he has a duty and responsibility toward the state; and that only in so far as he fulfils this duty can he benefit by the advantages of a complete personal and social life."

"When perhaps any Government would have been broken by economic events beyond the control or even the influence of this country—but when the outdated Treasury views of the pre-Keynes era, reinforced by the Puritan Cobdenism of Snowden, prevented any expansionist action to relieve unemployment. Men were sacrificed and left to rot under the Treasury doctrine that the way to deal with unemployment caused by chronic deficiency of demand was to add to that deficiency by cruel retrenchment."

"It is always difficult for an administration or party which is founded upon attacking capital to preserve the confidence and credit so important to the highly artificial economy of an island like Britain. Mr. MacDonald’s Labour-Socialist Government were utterly unable to cope with the problems which confronted them. They could not command the party discipline or produce the vigour necessary even to balance the budget. In such conditions a Government, already in a minority and deprived of all financial confidence, could not survive. The failure of the Labour Party to face this tempest, the sudden collapse of British financial credit, and the break-up of the Liberal Party, with its unwholesome balancing power, led to a national coalition. It seemed that only a Government of all parties was capable of coping with the crisis. Mr. MacDonald and his Chancellor of the Exchequer, on a strong patriotic emotion, attempted to carry the mass of the Labour Party into this combination. Mr. Baldwin, always content that others should have the function so long as he retained the power, was willing to serve under Mr. MacDonald. It was an attitude which, though deserving respect, did not correspond to the facts. Mr. Lloyd George was still recovering from an operation – serious at his age; and Sir John Simon led the bulk of the Liberals into the all-party combination."

"He was really a tender-hearted man, who would not have hurt a gnat unless his party and the Treasury told him to do so, and then only with compunction. ... We must imagine with what joy Mr. Snowden was welcomed at the Treasury by the permenant officials. All British Chancellors of the Exchequer have yielded themselves, some spontaneously, some unconsciously, some reluctantly to that compulsive intellectual atmosphere. But there was the High Priest entering the sanctuary. The Treasury mind and the Snowden mind embraced each other with the fervour of two long-separated kindred lizards, and the reign of joy began. He was a preaching friar with no Superior to obey but his intellect. ... The British democracy should be proud of Philip Snowden. He was a man capable of maintaining the structure of Society while at the same time championing the interests of the masses."

"To every outworn shibboleth of 19th-century economics he clung with fanatic tenacity. Economy, Free Trade, Gold — these were the keynotes of his political philosophy, and deflation the path he trod with almost ghoulish enthusiasm."

"They were told that Cobdenism was dead. ... Cobdenism was never more alive throughout the world than it was to-day. ... To-day the ideas of Cobden were in revolt against selfish nationalism. The need for the breaking down of trade restrictions, which took various forms, was universally recognized even by those who were unable to throw off those shackles."

"I hope you have read the election programme of the Labour Party...this is not socialism. It is Bolshevism run mad."

"I would like to see the word 'nationalization' banned from the socialist vocabulary."

"It is no part of my job as Chancellor of the Exchequer to put before the House of Commons proposals for the expenditure of public money. The function of the Chancellor of the Exchequer, as I understand it, is to resist all demands for expenditure made by his colleagues and, when he can no longer resist, to limit the concession to the barest point of acceptance."

"Truth," it has been said, "is the first casualty of war."

"The tone of his voice was pleasing and melodious; his pronunciation distinct and audible, though he never entirely lost the provincial accent. His style, though by no means elegant, often deficient in taste, and sometimes bordering on vulgarity, was highly nervous and animated, persuasive and plausible."

"The eloquence of Sir Robert Walpole was plain, perspicuous, forcible, and manly, not courting, yet not always avoiding metaphorical, ornamental, and classical allusions; though addressed to the reason more than to the feelings, yet on some occasions it was highly animated and impassioned. No debater was ever more happy in quickness of apprehension, sharpness of reply, and in turning the arguments of his assailants against themselves."

"[H]is prevailing weakness was, to be thought to have a polite and happy turn to gallantry,—of which he had undoubtedly less than any man living."

"I am sensible that Sr Robert, who is at once both a Wagg and a boaster, would be apt to ridicule these hopes of mine as fond and sanguine."

"In private life he was good natured, Chearfull, social. Inelegant in his manners, loose in his morals. He had a coarse wit, which he was too free of for a Man in his Station, as it is always inconsistent with dignity. He was very able as a Minister, but without a certain Elevation of mind...He was both the ablest Parliament man, and the ablest manager of a Parliament, that I believe ever lived...Money, not Prerogative, was the chief Engine of his administration, and he employed it with a success that in a manner disgraced humanity...When he found any body proof, against pecuniary temptations, which alass! was but seldom, he had recourse to still a worse art. For he laughed at and ridiculed all notions of Publick virtue, and the love of one's Country, calling them the Chimerical school boy flights of Classical learning; declaring himself at the same time, No Saint, no Spartan, no reformer. He would frequently ask young fellows at their first appearance in the world, while their honest hearts were yet untainted, well are you to be an old Roman? a Patriot? you will soon come off of that, and grow wiser. And thus he was more dangerous to the morals, than to the libertys of his country, to which I am persuaded that he meaned no ill in his heart... His Name will not be recorded in History among the best men, or the best Ministers, but much much less ought it to be ranked among the worst."

"He was an honorable man and a sound Whig. He was not, as the Jacobites and discontented Whigs of his time have represented him, and as ill-informed people still represent him, a prodigal and corrupt minister. They charged him in their libels and seditious conversations as having first reduced corruption to a system. Such was their cant. But he was far from governing by corruption. He governed by party attachments. The charge of systematic corruption is less applicable to him, perhaps, than to any minister who ever served the crown for so great a length of time. He gained over very few from the Opposition. Without being a genius of the first class, he was an intelligent, prudent, and safe minister. He loved peace; and he helped to communicate the same disposition to nations at least as warlike and restless as that in which he had the chief direction of affairs... With many virtues, public and private, he had his faults; but his faults were superficial. A careless, coarse, and over familiar style of discourse, without sufficient regard to persons or occasions, and an almost total want of political decorum, were the errours by which he was most hurt in the public opinion: and those through which his enemies obtained the greatest advantage over him. But justice must be done. The prudence, steadiness, and vigilance of that man, joined to the greatest possible lenity in his character and his politics, preserved the crown to this royal family; and with it, their laws and liberties to this country."

"The gratitude of place-expectants is a lively sense of future favours."

"All those men have their price."

"I dare be bold to affirm that, had the King of France beaten us, as we have done him, he would have been so modest as to have given us better terms than we have gained after all our glorious victories."

"The most unrighteous judgment was passed upon me in the House that was ever heard of...against the most positive evidence that it was possible in any case to give. ... I am made a sacrifice to the violence of a party and entirely innocent."

"It is obvious, that the people of England are at this moment animated against each other, with a spirit of hatred and rancour. It behoves you, in the first place, to find a remedy for these distempers which at present are predominant in the civil constitution."

"I am at a loss to discover where they will find this divine right in our government, or at least where they do find it in the reign of the late King [William III], whose title to be rightful and lawful king they have all sworn, or where they will find it in the next Protestant successor, for whom they profess an equal zeal, is not very obvious to me."

"The doctrine of unlimited passive obedience was first invented to support arbitrary power, but [was] of no use in her Majesty’s reign, where the law was the only measure of the regal power and people's obedience; and since it could be of no use or security to her Majesty there could be no other aim in it than to unhinge the government, and clear the way to the impostor's title. In fine, if the sin of resistance was damnable, there must a sincere repentance ensue to wash away the guilt, and this could not be done without restitution."

"Anything but history, for history must be false."

"In private amiable, in public great, Gentle in power, but daring in disgrace, His love was liberty, his wish was peace."

"But Orford's self I've seen, whilst I have read, Laugh the heart's laugh, and nod th' approving head."

"Sir Robert Walpole used to say, that it was fortunate so few men could be prime ministers, as it was best that few should thoroughly know the shocking wickedness of mankind. I never heard him say, that all men have their prices; and I believe no such expression ever came from his mouth."

"It was perhaps still more remarkable, and an instance unparalleled, that sir Robert governed George the first in Latin, the king not speaking English, and his minister no German, nor even French."

"One of the great merits of Sir Robert Walpole, and in which perhaps no minister ever approached him, was that of simplifying the taxes, abolishing the numerous petty complicated imposts, which checked commerce and vexed the fair trader, and substituting in their stead more equal and simple. But to omit matters of lesser note, the wisest proposal to relieve the nation was the Excise Scheme, by means of which the whole island would have been one general free port, and a magazine and common storehouse for all nations."

"The most unpopular Ministers in England, were the Earl of Clarendon, and Sir Robert Walpole, during their respective Administrations; the former a true, a steady, and equal Friend to a limited Monarchy, and the just civil Rights of the People; and the latter the best commercial Minister this Country ever had, and the greatest Promoter of its real Interests."