Word: callaghans
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Dates: during 1970-1979
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Right now the Callaghan government is leaning toward putting most emphasis on tax cuts. One obvious reason is to improve the Labor Party's chances of winning the general election that the government seems likely to call for next autumn. But there are economic arguments for a tax cut too. Current income tax rates, which begin at 34% for individuals with taxable income in excess of $1,796 a year and escalate to 83% on income over $38,000 annually, stifle incentive and initiative. A tax cut also would increase consumer demand, in theory prompting industry to increase production...
...Callaghan's left-wing Energy Secretary, Anthony Wedgwood Benn, proposes instead to use North Sea revenues to raise the budget of the National Enterprise Board to $1.9 billion a year, more than triple the present figure. The N.E.B. makes loans and grants to industries strapped for investment capital. Benn's scheme is opposed by Labor moderates and the Confederation of British Industry; both see it as promoting further government intrusion in private industry. Yet some way must be found to channel oil revenues toward the modernization of industry if Britain is to meet consumer demand and remain competitive in world...
...Beautiful. The underground bestseller, which argues for a new kind of technology on a smaller, more human scale, greatly influenced Brown's "Less is more" theories of government. During his 48-hour stay, Mr. Austerity dined with Prince Charles and paid a courtesy call on Prime Minister James Callaghan...
...flames engulf the buildings that they normally try to save. For the first time in its 59-year history, the British Fire Brigades Union had called a nationwide strike, ordering the country's 32,000 full-time firemen not to answer alarms. The government of Prime Minister James Callaghan rushed in 10,000 soldiers, most of whom had received only a few days training in rudimentary fire fighting. At week's end 33 Royal Air Force fire teams were dispatched to 13 cities to aid beleaguered soldiers. Thanks to the valiant service of the emergency recruits, no major...
...hike that would, the union claims, boost their salaries to the current average wage for Britain's industrial workers plus a 10% bonus for hazardous duty. (New York City firemen with similar experience make $385 a week.) But to combat Britain's inflation rate, now 15.6% annually, Callaghan's Labor government has set a 10% ceiling on all union pay increases over the next year...