[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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