Thursday, June 21, 2007

There's always a price worth paying

"Unemployment is a good and fair price to pay for low inflation."

- Norman Lamont, 1992, House of Commons. *

"Are you saying that lost North jobs are an acceptable price to pay to curb inflation in the South?" "Yes, I suppose in a sense I am."

- Sir Edward George, 1998, in reply to a question from yours truly.

"If you want to keep the union together, the Barnett Formula is a small price to pay,"

- Tony Blair, 2007, speaking at the Liaison Committee of senior MPs.

* Unclear as to whether this was his own phrase or one written for him by his researcher, D. Cameron.

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David Boothroyd said...

Your quote from Norman Lamont is not a quote and is wrongly dated. The full exchange went like this:

Robin Corbett: Why does he keep insisting that Government economic policies are working when almost 3 million of our fellow citizens are not? Does he see any connection between the loss of 1,000 manufacturing jobs each day for the first 90 working days of this year and high interest rates? Will he acknowledge that electors were looking forward to a June election because it is only during election periods that the Government manage to get interest rates down?

Norman Lamont: Rising unemployment and the recession have been the price that we have had to pay to get inflation down, but that price is well worth paying. I remind the hon. Gentleman that, under the previous Labour Government, inflation was never lower than 7.4 per cent. We shall have an average rate of inflation for the whole of this year lower than that.

This was said at Treasury questions on 16 May 1991, nearly a year before David Cameron started to work for him.

G Eagle said...

Sehr geEhrter Paul


It is so easy for those in over-secure over-paid employment to be so dismissive of the UnEmployed

I seem to recall Mr Major saying (of rising UnEmployment levels) :

"If it's not hurting, it's not working"

Yr obedient servant etc