Kit McMahon, 9 May 1996
In Politics and the Pound, Philip Stephens has produced a book which should be required reading for anyone aspiring to be either Chancellor or Prime Minister. Let’s hope Gordon Brown and Tony Blair are studying it carefully. They can legitimately enjoy the more egregious mistakes made by the Tories since 1979, but they should be sparing with their scorn. They should remember the errors of previous administrations; and be thankful they did not win the last election and inherit an ERM membership which they had supported when in opposition.