Part of Oral Answers to Questions — Defence – in the House of Commons at 12:00 am on 14th December 1976.

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Photo of Mr James Callaghan Mr James Callaghan The Prime Minister, Leader of the Labour Party, Member, Labour Party National Executive Committee 12:00 am, 14th December 1976

I am delighted to hear that confession from a sinner come to repentance. Even that belated admission that mistakes were made by the last Conservative Government is welcome. Let me assure the hon. Member that since his profligate Government left office the increase in money supply has been reduced drastically and has continued in that direction. I hope that, with the support of Opposition Members, we shall continue to do that in future.