WAGES & PRICES
ECONOMIC STABILISATION PROPOSALS & PLANS IN BRITAIN SOME LABOUR DEMANDS. MORE DRASTIC LIMITATION OF PROFITS. (By Telegraph—Press Association—Copyright) (Received This Day, 12.40 p.m.) LONDON, July 11. Financial circles are now of opinion that a firm wages policy, pegging the cost of living is an essential preliminary to a cheaper borrowing programme. The Government is believed to be getting down seriously to the problem of stabilising prices and wages. Labour representatives apparently are demanding a quid pro quo for any national wage stabilisation. They desire an extension of rationing over all essential commodities, with an adjustment of wages for lower-paid workers and also a more drastic limitation of profits and dividends. City circles reply that the excess profits tax has already severely limited the remuneration of capitalists. Shareholders, unlike the workers, have generally not received compensation for the rise in the cost of living. However the fear of inflation is so great that responsible financial organs seem prepared to accept dividend limitation if this is necessary to secure Labour’s agreement to wage stabilisation.
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Wairarapa Times-Age, 12 July 1941, Page 6
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173WAGES & PRICES Wairarapa Times-Age, 12 July 1941, Page 6
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