Prime Minister James Callaghan--in 1964

In OTL, James Callaghan finished a poor third in the February 1963 contest to succeed the recently deceased Hugh Gaitskell as Leader of the Labour Party, finishing behind Harold Wilson and George Brown on the first ballot. In the second round, where only Wilson and Brown were candidates, Wilson won fairly easily.

"Gaitskell's sudden death in January 1963 made his challenge for the party leadership inevitable. However, he mishandled the campaign badly. At the first Shadow Cabinet meeting after Gaitskell's death, Brown and his leadership rival Harold Wilson agreed to a clean fight. Wilson, who was accused by the right of undermining party unity, then informed the press that each agreed to serve under the other, which countered his reputation for plotting; Brown repudiated any such agreement, laying himself open to that accusation...

"Many on the right of the Labour Party, including Anthony Crosland and Denis Healey, supported James Callaghan for the leadership. They were opposed to Wilson's being elected leader, but they had good reason not to trust Brown. Partly this was because of private knowledge of his excessive drinking, which exacerbated his rude and aggressive style of politics. Crosland called the leadership election 'A choice between a crook (Wilson) and a drunk (Brown).' Many Labour MPs who were prepared to accept Brown as deputy leader were unhappy with the idea of his being in charge, and Wilson was easily elected.

"The mainstream press had not publicised his drinking, but it later became apparent when Brown was invited on Associated-Rediffusion television to pay tribute to John F. Kennedy after his assassination (Brown was probably the closest Labour politician to Kennedy). Brown had come from a dinner in Shoreditch where he had already drunk a great deal, and drank more while preparing to go on air - having a row with actor Eli Wallach which became physical. When Brown went on air, millions of viewers saw him interpret a fair question as an accusation of his having overstated his closeness, then give a morose and slurred tribute from which it was apparent he was intoxicated. Brown had to issue a public apology..."

http://en.wikipedia.org/wiki/George_Brown,_Baron_George-Brown

Let's say that just before the balloting in early 1963, some incident makes Brown's drunkenness so obvious to the public--even more than the JFK-tribute incident would do in OTL several months later--that the mainstream media cannot ignore it and Brown cannot explain it away, and is forced to withdraw his candidacy. Could Callaghan defeat Wilson for the Labour leadership in a two-man race? The fact that the combined "Gaitskellite" vote, split between Brown and Callaghan, exceeded Wilson's vote on the first ballot http://en.wikipedia.org/wiki/Labour_Party_(UK)_leadership_election,_1963 would seem to indicate it is at least a possibility.

So how does a Callaghan-led Labour Party do in the 1964 election? Assuming Labour wins as in OTL, how would a Callaghan government in 1964 compare with the Wilson government (in which Callaghan served as Chancellor of the Exchequer and later Home Secretary) of OTL?
 
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