Word: selwyn
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Dates: during 1960-1969
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...their lives, the limits in their responsibility. In July a neutral negotiating committee urged the Conservative government to grant teachers a raise of $133 million. The goal: a $1,680 starting salary, $3,220 maximum. Then, as a first step in its new austerity campaign, Chancellor of the Exchequer Selwyn Lloyd slashed the recommended increase by $15.4 million and talked of giving no raises at all. Said the London Daily Herald: "A cynical and mean-minded betrayal of the nation's need for education...
...Duke of Wellington at auction (TIME. June 23). Britain-firsters of all kinds raised pained howls of protest. Collector Wrightsman thereupon offered to sell it to London's National Gallery at cost-the $392,000 that he had paid for it. Last week. Chancellor of the Exchequer Selwyn Lloyd announced that the National Gallery had raised the money (?40,000 from the treasury. ?100,000 from a foundation established by Chain Store Tycoon Isaac Wolfson), would buy the painting and display it permanently...
...that the government would "lead the nation in calling for moral values to emerge instead of materialistic appetites." Accused of excessive complacency, Harold Macmillan himself loftily intoned: "When you hear the announcement, you wall not think we have been complacent." In the House of Commons, Chancellor of the Exchequer Selwyn Lloyd portentously lectured that "none of us must be bound by old dogmas...
While Secretary Dillon pointed with pride, his British opposite number, Chancellor of the Exchequer Selwyn Lloyd, wrestled with a new economic crisis. At a luncheon of the Association of British Chambers of Commerce last week, Lloyd tacitly confessed that Britain could no longer afford the economic strain of behaving like a great power, must cut its military expenses and avoid increases in foreign aid. Said Lloyd grimly: "We have been trying to do too much . . . Since the war, we have spent money out of all proportion to our resources to hold the free line throughout the world...
...Europe last week were supplying the Bank of England with gold and dollars with which to shore up the pound. But the only thing that could strengthen the pound permanently would be a spurt in Britain's industrial growth rate-currently among the lowest in Western Europe. Said Selwyn Lloyd: "For national economic survival, we must grow . . . We must see to it that wages, salaries and other incomes remain within the limits justified by increased productivity...