Below is the text of the Conservative Party Press Release on Mr Major’s comments on inflation. It was issued on Friday 20th March 1992, reference 517/92.
STABLE PRICES : THE TARGET FOR BRITAIN
“Today, for the first time in a generation, inflation in Britain is lower than inflation in Germany. No-
“Low inflation is not enough for us. I want an end to inflation. The target I am setting for Britain is stable prices -
Lower tax and lower inflation -
That's why Labour's 'budget' was such a dismal, destructive, divisive 'vision' for Britain. It showed Labour have learnt none of the lessons of the '80s, and forgotten none of the malice of their past. We will ensure that it was the last gasp of a dying creed.
Labour have tried to soft-
Labour's 'Budget': Short Change for Britain
"Labour would short change Britain. Change it immeasurably for the worse.
They would inflict on our country the sheer lunacy of a tax strategy that would hit all who achieve and all who aspire. Their 'Budget' would hurt the most skilled in Britain, and it would hurt them harder than even Labour have ever hurt them before -
But, above all, Labour's 'budget' would inflict massive penalties on middle incomes -
And that is just the cost of the tax they have admitted. But what of the cost of the rest of their plans? Labour's manifesto contains no costings. Neil Kinnock promised them; but he's broken his word. Well, they're coming. We're costing them. And we'll publish them. We'll keep Mr Kinnock's promise for him. Then the whole country will know. Labour's 'budget' fiasco is the tip of a gigantic iceberg towards which Mr Kinnock wants to steer our economy. It would rip a hole in the very fabric of Britain.”
"Britain must decide when the day comes on 9 April. It must decide at an Election where the choices are stark. Do we want a government which is firm in its principles? Or one which lessens our standing abroad?
Do we want a government which maintains our defences? Or one which apologises for defending at all?
Do we want a government which keeps our Kingdom united? Or one which risks letting it fall apart?
Do we want a government which believes in more ownership? Or one which has fought it wherever it's come?
Do we want a government which will stop strife in the workplace? Or one which would let the trade union militants loose?
Above all, do we want a country in which choice is extended? Or one in which opportunity is reduced?
Mr Chairman, this Party stands for the rule of law, strong defences, and a United Kingdom, proud of its position in the world.
We want a tax system which rewards skill and offers incentives to all.
I believe that the moment John Smith revealed his mean-