WAGES AND PROFITS
[To the Editor of THE • SeEcTAwort.] • Sut,—In your Parliamentary Correspondent's notes last week reference is made to a statement by Sir Stafford Cripps to the effect that whereas there had been an increase of 28.9 per cent, in the profits of 1975 companies for the first quarter of 1934,, as .compared with 1933, the increase in money wages during the same period was only a half of one per cent. I think this can be satisfactorily explained. Wages do not rise and fall with the profits and the losses of employers. The Trade Unions have seen to that. It is very remarkable that throughout the slump caused by the financial crisis, when employers were making .serious losses, wages remained prac- tically stationary except in a few cases, and where there were reductions they were restored at the earliest possible moment. To introduce a sliding scale for wages as profits rise and fall might be a good thing for employers, but I think it would be a bad thing for the workers.---Yours, OBSERVER. -
Previous page
