Orders of the Day — Motion of Censure

Part of the debate – in the House of Commons at 12:00 am on 2nd August 1965.

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Photo of Mr James Callaghan Mr James Callaghan The Chancellor of the Exchequer, Member, Labour Party National Executive Committee 12:00 am, 2nd August 1965

This morning I read all the right hon. Gentleman's speeches in preparation for this debate, to see what reference he did make to the balance of payments during these vital months. Of course, he went on saying that the economy must be competitive and that it was essential that we should be able to export more. But not once—at any rate, not in the Press comment which I have seen—did he direct the nation's attention to the basic balance of payments crisis which he knew it was facing.

We are ready and willing and intend to carry through our programme in every field, putting the recovery of the nation, the strength of sterling and the reconstruction of the economy first and then the social benefits which will flow from that strengthening of our economy. We are ready to carry out our programme honestly and faithfully. I hope that at the end of the day the epitaph on us will not be the epitaph which could be delivered on right hon. Gentlemen opposite in their last year of office: they had neither the guts to govern, nor the grace to go.