keith joseph 1974 speech


Death of an incomes policy Russell Lewis It is hard to overestimate the significance of Sir Keith Joseph's speech last week in Preston, for it marked his total conversion to the monetarist approach to our economic affairs and his equally total disillusionment with incomes policy. Note rather that the prize incomes policy exhibit, post-war Holland, is rather an unhelpfulexample, since that country in 1945 was unique for the homogeneity of its people nd, following the German occupation, uniquely united in the desire to rebuild their war-torn and impoverished country. Howard Flight's warning that removing child benefit from higher rate taxpayers will discourage the middle classes from breeding echoes a famous speech by Sir Keith Joseph in 1974. Yet proposals to extend birth-control facilities to these classes of people, particularly the young unmarried girls, the potential young unmarried mothers, evokes entirely understandable moral opposition. He came from a wealthy background; his father was a self-made businessman, who founded the construction company Bovis. Joseph said: “This is no time to be mealy-mouthed. He is seen as an amusing figure whose conversation in private is peppered with swear words.But Cameron has just given him a seat in the House of Lords.
The voter has faced three parties all of who claimed that they alone had the secret of fighting inflation, of achieving economic growth, of keeping down prices and providing benefits.


also ran counter to Lord Kahn's written submission that wage and price control should graduallY become more effective over time. If we cannot restore them to health, our nation can be utterly ruined - whatever economic policies we might try to follow .For economics is deeply shaped by values, by the attitude towards work, thrift, ethics, public-sprit. Keith Joseph was born into an Ashkenazi Jewish family. You will only have a healthy economy in a sound body politic. It has evolved a good deal in the past three centuries yet it has retained its essential character; its area of concern is the whole of public life and all matters which should be of public interest down to the treatment of every man, woman and child. If only, he mused, we .had had an incomes policy before the terrible series of recent events. They have preferred the permissive society, and, at the same time, the collectivised society. Yet it is hard to believe that Sir Keith was not fortified, if not impelled, to his work of demolition by the House of Commons Expenditure Committee's last report, which wound up pronouncing incomes policy politically dead. Dr .1cbacht, Hitler's economic minister, once said that if he could have only one control over the economy it would be exchange control. Far from bringing a leader into disrepute, a frank avowal of error is more likely to make him appear to be both more human and more trustworthy in the future.

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keith joseph 1974 speech