ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Only a Prices Board

of her unprecedented experiment to control prices and incomes, more and more attention is being focussed on the organisation which was set up to ensure that wage and price increases do not get out of line with the overall growth of output. This organisation, the National Board for Prices and Incomes. has been for a year or so in a kind of limbo. After all, if there is a statutory freeze on wages and prices, in theory there should be no reason for any price increases. The Sterling crisis of last July brought six months of total freeze on wages and prices and this was followed by six months of "severe restraint". It was never intended that there would be a free-for-all after this, and the period entered into last month is supposed to be one of moderation. Just what "moderation" is to be interpreted as is one of the jobs of the Prices and Incomes Board.

A Sterile Freeze

WITH PARLIAMENT breaking up for the summer recess and Prime Minister Wilson going for his annual holiday in the Scilly Isles, the long summer season

Coal s Fight for Survival

nationalised fuel industries, which has been simmering for nearly a year, is now reaching boiling point. Basically the argument is about the effect on the coal industry of the nuclear energy progrartune and the discovery of large quantities of natural gas in the North Sea. The coal industry in Britain is the biggest in Europe and up till now few Governments have challenged the demand to protect it from direct competition with other, cheaper, forms of energy. After all, it was argued, coal was Britain's only indigenous source of energy and so for strategic reasons, if nothing else, it ought to be conserved.

Keyed Up for Europe

second application to join the Common Market, the Chancellor of the Exchequer has decided to take no chances with the stability of Sterling and shows no signs of injecting a mild, inflationary dose into the economy. With Britain's debts to foreign bankers repaid and the flow of "hot money" into the country's reserves showing no signs of slackening, an early cut in Bank Rate after the Budget had been foreseen. This was all the more expected in view of the fall in German interest rates which, together with the continued fall in world rates, had indicated that a further drop of

The Colour Blot

 It was in fact the British representative of the Associated Chambers of Commerce who suggested forcefully that instead of schemes for compulsory export the Government should consider the feasibility of a FROM THE LONDON END 'Buy Indian Act' on the lines of the Buy American Act, as part of the drive for import substitution. But others at the Council did not care to follow up the suggestion.

Ripe for the Left

Ripe for the Left "IF the Left was a serious force any more in British politics then the reaction to this Government'? policies could be measured in thousands of protest votes going to the Communists or some new radical party rather than to the nationalists and occasionally to the Liberals." The rpeaker was a Labour MP, at one time a Left-wing rebel against the post-war Atlee Government, but today among the loyalist of Wilson supporters in Parliament. Ho was commenting on a phenomenon which has struck many observers of the British scene since the return of the Labour Government in 1964.

To Protect the Small Investor

The economic squeeze in Britain has triggered off the collapse of a number of investment banks which have attracted millions of pounds from unsuspecting investors who thought that their savings would be as safe as in an ordinary bank. In less than three months three such large banks have closed their doors to the public, saying that they are unable to meet their debts. A total of over £20 million of public money is involved.

Revolt at LSE

Revolt at LSE A WAVE of protest from Britain's university students is gathering strength and may force a redefinition of the student's role in the University and in society. At the moment, unrest is centred on the London School of Economics, where for the last week hundreds of students have blocked the entrance hall during a "sit-in" demonstration against the University authorities. Ostensibly, this is in protest against the suspension of two student leaders who led a demonstration against the appointment of Walter Adams, former head of University College, Rhodesia, to succeed the School's present director Sir Sidney Caine, who is retiring. Underneath it is a call for a revision of the political role of the student in the University and in society, and this is the most publicised symptom of a nation-wide unrest.

Regional Feelings Prevail

Regional Feelings Prevail IN A remarkable analogy to recent trends in India, this week's "mini- election" in Britain has shown strong support for regionalism. The Wilson Government will now have to seriously consider decentralising Government within the United Kingdom if it is to withstand the rising tide of nationalist opinion in Scotland and Wales.

A Calculated Dose of Expansion

A Calculated Dose of Expansion ECONOMIC OBSERVERS in Britain are expecting a further small reduction in the Bank Rate in the near future following encouraging progress made in the long job of putting the country back on its financial feet. The last reduction in the Bank Rate two months ago followed a special meeting called by the chancellor of the Exchequer, James Callaghan, of European finance ministers with the professed aim of co-operating to reduce the high level of interest rates around the world. A few days later Britain, partly as a gesture and partly as a technical adjustment to European rates which had already been slightly lowered, reduced her Bank Rate from the "crisis'' level of 7 per cent to 6

Dilemma on the Rhine

bright prospect is within reach in Kerala". Organiser, the spokesman for the Jan Sangh, atone of all party papers was in a great mood to crow. It was frankly delighted with reports in the English language press of the rise of the Jan Sangh. "For all these years" said the "Organiser", "the Congress has peddled the myth that it alone can give the country stability and peaceful progress. In all the preceding elections it fostered the belief that it alone would win. . . the trick worked. But today this myth stands exploded. . . it is a great moment for this country". The editorial then exploded in a quotation

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