BONUS FOR WORKERS.
FIVE SHILLINGS A WEEK.
PROPOSAL TO STABILISE WAGES.
By Telegraph.—Press Association. Wellington, May 14. The pronouncement of the Court of Arbitration on the cost of living bonus for the period commencing May 1, 1921, was made to-day. The court had adhered to the principle adopted in the past of working on a six-monthly moving average. On this basis a sum of 3s a week is required to meet the increase shown in prices. To this has to be added 2s which was deducted from the amount of the last bonus to discharge the past over-pay-ment. The total additional bonus, calculated in accordance with the system laid down by the court, is therefore 5s per week.
The court says it has come to the conclusion that from the national viewpoint as well as in the interests of employers and workers alike, a system of stabilisation of wages is highly desirable at the present time, so it has decided to introduce a scheme of stabilisation.
The court is of opinion that the workers should not be deprived of the extra 5s per week which represents their loss of purchasing power in the last six months, but considers that instead of this sum being paid during the current six months it should be set off against the inevitable reduction that the September figures will. show. This will have the effect of stabilising wages until April 30, 1922. We believe that both employers and workers will derive more benefit from stabilisation on the basis of the present rates than from an increase in May, followed ‘by a greater reduction in November. Under such a scheme the porkers, whose cost of living has in fa'ct been reduced, will benefit by having their wages secured on a falling market for 12 months instead of six, and employers who cannot now pay higher wages will benefit by the stabilisation of labor costs. The pronouncement will not be subject to review until after April *3O, 1922. Applications may be made to the court, which, however, will require proof of extraordinary circumstances before departing from the principles laid down, unless the parties agree to a modification.
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Taranaki Daily News, 16 May 1921, Page 8
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360BONUS FOR WORKERS. Taranaki Daily News, 16 May 1921, Page 8
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