§ But the old and the retired can be given a proper share of our rising national output only if others do not take more than their fair share.
280§ And in the interests of the pensioners, no less than of the nation as a whole, it is right that I should make one further point so that there is no risk of misunderstanding. In the past the situation during wage negotiations was one where it was always possible to argue that a week or two on strike, or some other form of industrial action, would result in a compromise and an improved offer.
§ Today the situation is quite different because the Government have for the time being laid down, in the interests of the nation as a whole, clear and definite limits on pay increases. In these circumstances it is inconceivable that any Government could agree to a dispute being settled by an offer outside the limits laid down. And it follows that industrial action which sets out to achieve that will merely make the nation poorer, and no one richer. As a people we can now show, for a welcome change, that militancy does not pay, and that responsibility, moderation and common sense will prevail.
§ The central objective of this Budget is to maintain the economic expansion which we have sought for so long, and which we are now at last achieving. And to succeed we must all—Government and nation alike—be steadfast in our resolve to control inflation. Only in this way can we give the British people the opportunity to create a new wealth and a new strength for our country. And we mean to do just that.