Big Ben tolled a quarter after three when dapper John Wilmot, Labor's Minister of Supply, rose in the House of Commons. Confidently, he announced that the hour for Britain's third-largest heavy industry had struck. Said he: "The position of the steel industry and its importance in the national economy necessitate a large measure of public ownership. . . . For [the transition] period I propose to establish a control board. . . ." He gave no further details. It was Labor's vaguest policy statement to date. It was also Labor's greatest blunder.
Winston...
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