We should not delude ourselves into thinking that an incomes policy is other than a serious infringement of freedom... Nor have the Liberals explained how it is to be worked, and even if they had, it is certainly not a permanent answer to our economic troubles... At present, the Liberal-Social Democratic Alliance occasionally looks too much like a half-way house on the old road to state socialism. It will spend more than the Tories but rather less than Labour... Such compromises may win votes, but they will not improve the country.

In the Journal of Economic Affairs (October, 1981).