6 comments on “I like the sound of this

  1. Labour has been on the wrong side of historic choices ever since Wilson told us that ,”the pound in our pockets would not be devalued,” with decimalisation. Cue 6% inflation, which was a lot in those pre-Maastrict, pre-Winter of Discontent, days. If Labour ever manage to rid themselves. of the opium dream that the State can create wealth, rather than the reality that the State destroys wealth, then the chances of staying on the right side of historic choices might just increase.

  2. The “pound in your pocket” quote was not connected to decimalisation. It was said by Wilson after devaluation in 1967. He said people might fear they would have lower wages. But it was exactly the pound in our pockets that HAD been devalued in terms of dollars, marks etc. £1 = $2.40 instead of $2.80.

  3. Wilson was correct. The Pound in your pocket would not be devalued. It was only when you took it out of your pocket that it was devalued.
    That was the first time I understood political selective speech.

  4. @ maritime Barbarian. You are, of course, correct. apologies for the failing memory of an old fart.

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