Economic Strategy

Part of Oral Answers to Questions – in the House of Commons at 12:00 am on 24 July 1980.

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Photo of Mr Geoffrey Howe Mr Geoffrey Howe , East Surrey 12:00, 24 July 1980

There is concern on both sides of the House about the need to secure a downward movement in unemployment. But, as the right hon. Gentleman told the House on many occasions, the conquest of inflation must precede the conquest of unemployment. When we came into office we inherited a rapidly growing rate of inflation, running at almost 14 per cent. Now, after two years of movement in the wrong direction, we have begun to move in the right direction. We are entitled to take credit for that.