Word: contraction
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Dates: during 1970-1979
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...months Prime Minister Harold Wilson has cajoled, wheedled and haggled with Britain's powerful labor unions in a vain effort to stop their rampaging wage demands. The basis of his policy was the "social contract," a formal deal (although never written into law) between the government and the labor unions. The government would deliver social welfare benefits in exchange for voluntary restraints in pay settlements. Purpose: to keep workers abreast of-but not ahead of-inflation...
...average weekly wage rates for manual workers rose 32.6%, leapfrogging ahead of the 25% inflation rate for the same period. Last week, after inflation had worsened and the pound sterling had hit a new low, Wilson and his Cabinet took a deep breath and finally scrapped the tattered social contract. Chancellor of the Exchequer Denis Healey announced that beginning with the September round of pay negotiations no wage increases above 10% will be allowed...
Boverini filed the exemption bill in response to a 1974 ruling by Nicholas Metaxas '50. Commissioner of Corporations and Taxation. The commissioner's decision said, "the contract board paid by students to colleges and universities is subject to the meals...
Jones said the probable defeat of the bill will result from "the troubled state of the budget right now." He added, "Contract board is a resource the Governor and the Legislature would like...
...result of the cutbacks is that contract negotiations are less heated this year. In New England, teachers who held out for 9% and 10% raises a few years ago are realistically settling for 3% and 4% now. "Teachers don't like that," admits Frank Martin, executive secretary of the Massachusetts Federation of Teachers. "But they like being laid off even worse...