Dinner at Westminster for the Tories

A very successful dinner was held on Saturday in the House of Commons, sponsored by Mrs. Margaret Thatcher, by the Finchley and Friern Barnet Conservative Association.

Councillor Vic Usher, chairman of the association proposed the toast to the Conservative Party and Her Majesty's Opposition. He said they were proud to have a Member who puts things so clearly on questions of economics.

Mrs. Thatcher, in her reply, started by giving a description of the Harcourt Room in which the dinner was held, and explaining some of the famous pictures on the walls; these had been loaned by the Tate Gallery.

She then went on to describe the tactics of the Opposition in attacking the Budget. The Payroll Tax was the most ill-conceived piece of legislation she had seen in a very long time— thought up but not thought out. Normally when one had a change of tax there was issued a White Paper in the first instance. On this occasion this was not done.

Finance

Talking of the balance of payments she pointed out that the adverse balance of payments in 1951, as compared to 1964 were very similar, taking out the amount of capital investment. The difference however, is mainly confidence in Governments. In 1951 when the Conservatives took over control, the confidence regained in the overseas financial markets of the world was the reason why we got out of our financial difficulties.

This had not been repeated in 1964 when the Labour Government took control. There was lost confidence in the eyes of the world and that is why we had to borrow very large sums to bolster the £ on more than one occasion since the Socialists took control.

It was evident from legislation now proceeding that the Socialists want more control over every one of our lives. This is something that the Conservative opposition would fight every step of the way.