Charles Emmerson said this quote

The long-term integrity of the empire would not be assured by warm words alone. Britains own position in the empire had changed. Once, the country been the engine room of empire, the productive heart of the beast. But with Britain becoming more like a boardroom, investing money, taking decisions, but essentially living off the labor of others, and off the earnings of the past? At some point in the future, might even this role wither away, and might Britain become little more than a repository of British tradition, a common idealized land into which Britons abroad – in Australia, Canada, New Zealand or South Africa – could retreat, a collective memory of Greenfields and swooping glens?