The Further Threat to the Pound

Abstract

My Lords, perhaps I am almost alone in feeling that, with the one notable exception of the speech delivered from these benches by the noble Earl, Lord Cromer, speakers have concentrated perhaps more on long-term problems than on the dangers of the immediate situation. Heaven forbid that I should underestimate the importance of the solution of the long-term problems of this economy! But it is my intense conviction that the solution of these long-term problems will be made much more difficult if we do not succeed in solving the problems which lie nearer at hand.