Those who advocate devaluation are calling for a reduction in the wage levels and the real wage standards of every member of the working class.
James CallaghanIf Britain becomes a member of the Community, it will be healthier for Britain, advantageous for Europe, and a gain for the whole world. I do not know of many economic or political problems in the world which will be easier to solve if Britain is outside rather than inside the Community.
James Callaghan