Orders of the Day — Budget Resolutions and Economic Situation

Part of the debate – in the House of Commons at 9:30 pm on 16 March 1981.

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Photo of Mr Geoffrey Howe Mr Geoffrey Howe , East Surrey 9:30, 16 March 1981

I shall give the right hon. Member for Stepney and Poplar (Mr. Shore) his opportunity in a moment.

I wish to make it equally clear that the level of inflation in this country, which has been mounting under successive Governments, is equally, and just as importantly, an important moral issue for the fabric of this nation.

My right hon. Friend said that when we come to face those two issues—I understand what led him to say this—we do not have the choice and we are not entitled to make the choice between those two problems. In a sense he was right, because it must be the purpose of any responsible Government to conquer both. He was right also because the truth is that we cannot conquer unemployment if we are prepared to accept inflation. So our purpose is, as it must be, to maintain the fight against inflation, not by watching this or that statistic to the underexclusion of any other but as a crucial part of our fight to check the growth of unemployment.