Murray Prepares Phase Three
Socialist Press1977 1977-02-02Read it in the scan (PDF), scan page 4 →
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The Labour government's own figures are giving almost daily confirmation of the huge cost which the social contract is imposing on the working class.
Total unemployment (excluding school leavers) went up by 70,000 in December to reach more than 1,400,000. nell over 6f of the workforce.
At the same time, the real wages of those still in work are falling Laste LetT ever.
In the year up to last December earnings went up by 10%. When income tax and social security are taken into account, this meant a rise in take home pay of no more than about 7-8%.
Over the same time prices soared a full 15%. This implies a cut in real pay, therefore, of between 7% and 8% over the year.
It is going to get worse. The Price Commission lasst week predicted that inflation would get faster over the rex: is 200i5 And as Size?. M1I031 Fade te 605 = 0 =
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