9.
The changes required of us will not
come about easily. British society is based
on a very delicate and intricate balance of
forces, and anything which upsets this balance
is highly unpopular.
This accounts for the slowness in
which management and the trade unions at home
accept change.
But change there is and we
in Britain are at present in the throes of
a major change.
Let this be fully understood.
10.
The course of the British economy since
devaluation in 1967 has proved heartening in
some respects yet disappointing in others.
Overall, the balance of payments has
improved, though not as fast as we had hoped.
This is due mainly to the fact that we still
import far too much. This has offset much of
the considerable improvement in exports.
Exports have done and are doing well.
They have increased faster than we had hoped.