Word: limits
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Dates: during 1970-1979
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...Britain's labor unions have contributed heavily over the years to the sagging productivity and destructive wage inflation that have brought their nation to the brink of economic disaster. Last summer it took the threat of imminent economic collapse to win agreement by the unions to a voluntary limit on pay. This week Britain faces another crucial test of its ability to get labor cooperation in surmounting the nation's frightening economic woes. Leaders of the Trades Union Congress have set themselves a deadline of Wednesday for deciding whether to agree to a government proposal for even tighter...
...Prime Minister James Callaghan. His Labor government is pressing on the T.U.C. a novel proposal: accept another year of stringent wage restraint in exchange for a substantial cut in workers' income taxes. The government's plan, detailed by Chancellor of the Exchequer Denis Healey, calls for limiting pay increases to 3% (an average of $3.70 per week) over the twelve months starting Aug. 1. That is the expiration date for present voluntary wage controls, which limit all raises to ?6 (at present exchange rates, a bit less than $12) a week. Healey argues persuasively that the combination...
...unions' first reaction was antagonistic. In the tradition of trying to improve on what Healey termed the government's best offer, T.U.C. leaders demanded that the limit on raises be upped to 5%-and that their members get the tax cuts too. But as the talks ground on last week, the T.U.C. and the government exhibited a growing willingness to compromise...
Medenica estimates that, without sponsorship from any outside organization, he will have to limit his activities sharply by the middle of the summer. And since prospective sponsors are usually only interested in the big-name drivers of more advanced, higher formula cars, he is not alone...
...U.R.W. selected Firestone as its "target company" and demanded a COLA with no "cap," or limit, plus a $ 1.65 hourly raise ($2 for skilled tradesmen) right away. The union also asked for further raises in the second and third contract years and an increase in fringe benefit expenditures from $3.55 to $4.73 per hour. Further, it demanded that workers who do not produce tires be paid no less than tire workers...