From the August 1973 issue of the Socialist Standard
Benn Accuses Tories of ‘State Capitalism'
Speaking in the House of Commons on 5 March in a debate about the Government’s Green Paper on the price and pay code, Mr. Wedgwood Benn declared:
“This code, if it comes into effect under this legislation, will mark the end of free enterprise as we know it and will usher in an era, not of Socialism— I entirely acquit the Government of any interest in that direction —but at least of State capitalism or something like it which is totally contrary to the principles upon which they presented themselves to the electorate in 1970” (Hansard, 5 March 1973, Col 52).
The Tory member who is supposed to have been overheard saying at a recent party that ‘the Labour Party made fifty promises at the last election and we’ve implemented forty-eight of them’ was not available for comment.