“This is a Vote to spend £58,000,000 in protection of our trade routes. Our trade routes are in danger, but they are not in danger from navies. … They are not naval, they are not military, they are not aerial; they are industrial, and the First Lord of the Admiralty has within the last few days been brought face to face with far and away the greatest danger to our trade routes. It is not in the Pacific; it is at home. It is no use sweeping the vast expanse of the Pacific Ocean in order to see whether you can somehow or other find dangers to guard against. The danger is yawning in front of us, and the Government are marching into it, scanning the horizon with telescope glued to one eye, and the other closed.”

Speech https://api.parliament.uk/historic-hansard/commons/1925/jul/29/navy-supplementary-estimate-1925-26#column_479 in the House of Commons (29 July 1925)
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Former Prime Minister of the United Kingdom 1863–1945

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