Sunday, 24 March 2013

{Price and Wage Control}[7th July 1970]


[Redbook1:167][19700707:1645]{Price and Wage Control}[7th July 1970]

Tuesday the 7th July 1970
4.45.pm.

            I think governments and people will eventually have to get used to maximum price control by the government and wage control by an impartial arbitration council who will take into account whether a wage increase can be afforded even if it is deserved.  If both unions and managers (including shopkeepers) knew that their needs were being examined by an impartial board who also had to take account of the overall economic situation they might not object so much to controls.

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