That sentence isn't punctuated properly, something that Churchill would ordinarily do. It needs either a semicolon after "envy", or a period and the start of a new sentence. The net shows many citings with a comma there, but I'm always skeptical of quotations that don't include primary sources. I kept searching until I found a site that gives primary sources. Rather than put those two statements in the same sentence it attributes them to two different speeches.
"Socialism is the philosophy of failure, the creed of ignorance and the gospel of envy." [Scottish Unionist Conference in Perth, Scotland, May 28, 1948] "Its inherent virtue is the equal sharing of misery." [House of Commons, October 22, 1945]
This sort of thing may not matter to some persons, but I think it only fair to Churchill to quote him accurately. Also, errors in the evidence we cite -- even superficial ones -- give our adversaries opportunities to discredit it.
Man, I love this site. The things one learns here are second to none.
Oh, picky picky picky!