A second devaluation would be regarded all over the world as an acknowledgement of defeat, a recognition that we were not on a springboard, but a slide. I myself have always deprecated-perhaps rightly, perhaps wrongly-in crisis after crisis, appeals to the Dunkirk spirit as an answer to our problem, because what is required in our economic situation is not a brief period of inspired improvisation, work and sacrifice, such as we had under the leadership of the right hon. Member for Woodford (Sir W. Churchill), but a very long, hard, prolonged period of reorganisation and rededication. It is the long haul, not the inspired spurt, that we need. (Harold Wilson)

A second devaluation would be regarded all over the world as an acknowledgement of defeat, a recognition that we were not on a springboard, but a slide. I myself have always deprecated-perhaps rightly, perhaps wrongly-in crisis after crisis, appeals to the Dunkirk spirit as an answer to our problem, because what is required in our economic situation is not a brief period of inspired improvisation, work and sacrifice, such as we had under the leadership of the right hon. Member for Woodford (Sir W. Churchill), but a very long, hard, prolonged period of reorganisation and rededication. It is the long haul, not the inspired spurt, that we need.

Harold Wilson

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