"We used to think that you could spend……" — James Callaghan

"We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists, and in so far as it ever did exist, it only worked on each occasion since the war by injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step."

— James Callaghan

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20 Quotes by James Callaghan

James Callaghan has 20 quotes on this site. A few more worth reading:

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