"Jobs really come in the productive sector of the economy. The real jobs are where people are producing goods or services which other people will buy. Now, dependent on those people producing those goods, are a lot of others in the public sector. Now if you run up the public sector, you can only do it by draining money out of industry and commerce. But that's where the jobs are. And one of the reasons why you have to cut public expenditure is to get the money back out of the public sector, into industry and commerce, so that they, in fact, can invest, and improve, and expand; because that's where the secure jobs are."
1976 Feb 5, TV Interview for Thames TV 'This Week'