“No country would suffer more than Britain from an international trade war, since we depend more on world trade than any of our competitors. That is why we cannot accept the proposal made in some quarters that we should seek to solve our problems through imposing import controls for a long period over a whole range of manufactured consumer goods.”

— Denis Healey

Speech http://hansard.millbanksystems.com/commons/1975/dec/17/employment in the House of Commons (17 December 1975) <br class="br">1970s

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "No country would suffer more than Britain from an international trade war, since we depend more on world trade than any…" by Denis Healey?

Denis Healey32

British Labour Party politician and Life peer 1917–2015

Related quotes

“Our more serious devastation was invisible—the shattering of our export trade through our being cut off for over four years from our normal overseas markets. We were the largest international traders in the world and were, therefore, more vulnerable in this respect than any other country. Our customers had been driven either to secure their supplies from rival sources or to start manufacturing for themselves. Indeed, our export trade has never recovered from the War, as the derelict factories of our industrial districts bear melancholy witness. While world trade had by 1927 risen to 120 per cent of the pre-war level, British export trade was only 83 per cent of its pre-war height. That is our real devastated area.”

David Lloyd George (1863–1945) Former Prime Minister of the United Kingdom

The Truth about Reparations and War-Debts (London: William Heinemann Ltd, 1932), pp. 8-9
Later life

“Ever since the population of this little island grew large, trade has been its livelihood. We imported food and raw materials and paid for them by exports of coal and manufactures, by earnings from shipping and other services, and by interest on foreign investments. The first world war injured our position seriously, the second had far worse effects. When we stood alone in the second world war we threw all that we had into the battle. … We sold our foreign assets. We reduced our production of civilian goods to a minimum. We lost nearly all our export trade and much of our shipping. … We have, therefore, to face now before we have recovered from the effects of the war, and before our long-term plans have taken effect, the necessity of relying entirely on our own resources. This is a situation as serious as any that has faced us in our long history.”

Clement Attlee (1883–1967) Former Prime Minister of the United Kingdom

Broadcast (10 August 1947), quoted in The Times (11 August 1947), p. 4
Prime Minister

“Faced with the difficulties of unilateral reflation, some socialists are tempted to seek salvation through trade restrictions or competitive devaluation. But such beggar-my-neighbour policies, if pursued on the scale required…are more likely to lead to a trade and currency war than to insulate their sponsors from the recession in the outside world.”

Denis Healey (1917–2015) British Labour Party politician and Life peer

Speech to the twelfth congress of the Confederation of Socialist Parties of the EEC in Paris (12 November 1982), quoted in The Times (13 November 1982), p. 3
1980s

“Since 2003, we are fully dependent on oil. Agriculture, industry, manufacturing have all regressed, accounting for not more than 1.25 percent of GDP. Our strategy is to reactivate agriculture, manufacturing and other productive activity, and at the same time provide protection to the people. In terms of social advancement, we want to strengthen labour laws and fiscal policies. Iraq should not be a consumer-only market for the production activities of neighbouring countries.”

Raid Jahid Fahmi (1950) Iraqi politician

Interview with Al Jazeera (25 May 2018)