Orders of the Day — Economic Situation

Part of the debate – in the House of Commons at 12:00 am on 19th March 1962.

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Photo of Mr James Callaghan Mr James Callaghan Shadow Chancellor of the Exchequer, Member, Labour Party National Executive Committee 12:00 am, 19th March 1962

I fully accept all that the hon. Member says on this, but if this leads directly, as it has done in this case, to a balance of payments crisis and a pay pause, we have to ask ourselves whether the removal of all these restrictions was in fact justified.