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...government fear that taking over the North Sea oil might delay energy development that Britain desperately needs by causing the companies, mostly American, to look for safer, more profitable areas where they can place their capital. The National Enterprise Board, which will be run by Anthony Wedgwood Benn, the doctrinaire Minister of Industry, fills British businessmen with dread. They view it as a not-so-subtle tool for wholesale nationalization...

Author: /time Magazine | Title: BRITAIN: Artful Dodging | 11/11/1974 | See Source »

...Labor government deeply worried the middle classes. At first it was thought that Wilson, because of his precarious position in Parliament, would attempt to form a moderate consensus government. Instead, he appointed leading members of Labor's outspoken left wing to important Cabinet posts. Anthony (Tony) Wedgwood Benn became Minister for Industry and proposed "planning agreements" with the country's top 100 companies-a first step, many felt, toward outright nationalization. The Exchequer went to Denis Healey, who during last February's campaign pledged that he would cause "howls of anguish" from the rich. Actually, the higher...

Author: /time Magazine | Title: BRITAIN: Will Democracy Survive? | 9/30/1974 | See Source »

Tory newspapers bitterly attacked Harold Wilson's Labor government. In June, the government agreed to buy Court Line's shipbuilding interests for $37 million, and Anthony Wedgwood Benn, Secretary of State for Industry, assured Britons that the money should provide "reasonable security" to Court Line's other operations, "including the holidays booked for this summer." Believing him, many more would-be travelers signed up and paid for trips right through the night before Court Line closed its doors. The Conservative Party could hardly have composed a more spirited overture for the national election expected to be held...

Author: /time Magazine | Title: BRITAIN: Pay Now, Fly Never | 9/2/1974 | See Source »

...other key posts Anthony Wedgwood Benn, 48, resumed his old responsibilities as Minister for Industry; Shirley Williams, 43, was given a new portfolio of Prices and Consumer Protection; and Roy Mason, 49, becomes Defense Secretary. As his personal economic adviser, Wilson chose millionaire Socialist Harold Lever, 60, who is known and respected in international financial circles...

Author: /time Magazine | Title: BRITAIN: Wilson's First Hundred Hours | 3/18/1974 | See Source »

Criticism of Heath. The costs in lost production and exports, said Benn, will be ten times that-or close to $1 billion a week. That is a loss that Britain cannot afford, since its balance of payments deficit for 1973 is already a staggering $5.2 billion. Said Sir Michael Clapham, president of the Confederation of British Industry: "A three-day week is pretty near disastrous for a trading nation. The average industry can't break even operating at 65%. So pretty well every firm will be taking a loss." As the consequences of the shortened week began...

Author: /time Magazine | Title: BRITAIN: On a Three-Day Work Week | 1/14/1974 | See Source »

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