Smedley described himself as an "uncompromising
free-trader and
libertarian". In opposition to
Clement Attlee's
Agriculture Act 1947, Smedley helped to found, and become secretary of, the Farmers' and Smallholders' Association in 1947. Its first president was the
Conservative Party MP
Waldron Smithers. In 1952, Smedley resigned from his job as a chartered accountant and campaigned for
economic liberalism from his office in
EC2.
S. W. Alexander, editor of the
City Press, used the newspaper to publicise Smedley's campaigns. Smedley later described himself and Alexander as "the only active free-traders left in England in the 1950s". Smedley's main campaigning organisation was the Cheap Food League, which was against all types of protection and
subsidy in agriculture, especially
marketing boards. During a potato shortage in 1955, he said: "The
NFU statement confirms my view that the union leaders care not whether the people starve, provided the potato growers are permanently protected from the cold wind of overseas competition. Such callous irresponsibility has been unknown in the land since the days of the
Corn Laws." In a protest against high taxation, Smedley founded the Council for the Reduction of Taxation in 1954. In 1955, whilst a member of the
Society of Individualists, Smedley met
Antony Fisher and together, following
Friedrich Hayek's advice, they founded a new research institute to propagate
neoliberal ideas. On Smedley's suggestion, it was named the
Institute of Economic Affairs (IEA). Fisher and
Ralph Harris (director of the IEA) were concerned with Smedley's links with the
Liberal Party, and Harris moved the IEA's office from Smedley's EC2 office to Hobart Place in 1959. Smedley took over the
Free Trade League and the
Cobden Club in 1958. As a Liberal Party politician, he stood against
Rab Butler in
Saffron Walden in the general elections of 1950 and 1951. In all, he contested eighteen parliamentary elections. According to
Richard Cockett, Smedley and
Alfred Suenson-Taylor "sought to keep the flames of
Gladstonian Liberalism burning within the [Liberal] Party" and to oppose the influence of
William Beveridge and
John Maynard Keynes. Smedley was a critic of what he considered to be the Liberal Party's abandonment of free trade and self-improvement. Smedley left the Liberal Party in 1962 due to his opposition to their favourable attitude to British membership of the
European Economic Community (EEC). He founded the Keep Britain Out campaign to oppose British membership of the EEC.
The Times claimed that Smedley "believed that the EEC undermined the sovereignty of Britain and he was relentless in his efforts to save Britain from the high
food prices of the protectionist
common agricultural policies". In 1982, he founded the
Free Trade Liberal Party with Alexander. == Pirate radio ==