Word: wage
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Dates: during 1950-1959
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...debate of Britain's economic situation. Prime Minister Harold Macmillan's Conservatives were grim. Behind them was a series of defeats in by-elections; ahead of them, demands from 5,000,000 British workers, led by the railwaymen, for a new round of wage boosts. But Chancellor of the Exchequer Peter Thorneycroft doggedly stood the Tories' ground...
...measures are designed to make money scarcer and more expensive," he said, "to make it harder both to earn profits and to get wage increases." Thorneycroft announced that the government would veto all wage increases for its own employees in the ministries and nationalized industries, hoped thereby to set an example for private industry. Further wage hikes, warned Thorneycroft, "would be a disaster to this country." Snapped the Labor Party's economic spokesman, Harold Wilson: "A straight declaration of war" against the trade unions...
...production by facilitating capital development in sectors of future importance to the economy. More basically, the government should consider actions necessary to halt "cost-push" inflation by a re-examination of our labor and anti-trust policies, so that competition can be restored to markets in which industry-wide wage increases are granted because price increases can follow at the employers' will. The Administration must reconsider its reliance on tight money as the major tool to fight inflation or jeopardize economic growth and equitable income distribution...
...major goods and services more than offset the substantial reduction in food prices, reported the bureau. Although the rate of increase was the lowest in ten months, thereby offering hope of a stable index in the months ahead, the September high will trigger a 1?-to-5?-an-hour wage increase for some 1,500,000 workers. It will also cause further strains on inflation-pressed family budgets across the nation; while the price index stood 3.4% higher than a year ago, another Labor Department report showed factory workers' buying power down 2% over the same period...
Aramburu thereupon turned back to fighting the painful inflation that makes politically inspired strikes so easy to call. For the past year labor has been caught with wages frozen while prices spiraled up 34%. Aramburu has stoutly refused to grant a wage boost that would redouble inflation. Instead, he has tried to persuade manufacturers and wholesalers to cut prices by cutting profits. After last week's strike he got strong and unexpected help when the influential Roman Catholic Church issued a pastoral letter that declared "business concerns, have a greater duty to reduce their profits than workers to forego...