STATE OWNERSHIP
BRITISH COAL INDUSTRY.
LABOUR PARTY’S PROPOSAL. CONTROL BY COMMISSION. Press Association—Copyright.) (“Sun.”) (Received This Day, 8.20- a.m.) LONDON, January 9. The Gazette states that a group of Labourites presented a new coal policy to Mr J. Ramsay MacDonald, involving a complete volte face regarding nationalisation' - and giving prominence to State ownership without ' control. The policy includes the State acquiring all coal, minerals and royalties by the issue of £260,000,000 worth of bonds to the public, on which dividends amounting to £10,000,000 "would he payable annually after three years during which the profits would he devoted to unification and the restoration of the seven-hour day.. The State would appoint a Mining Corporation, comprising 10 business men, coal-owners and Trades Union leaders, receiving £IOOO yearly, who should Control the industry, effect "amalgamation and unification, working in conjunction with the Consumers’ Council. The proceedings would be debated in Parliament annually. The Labour Party will, consider the scheme on January 20, and is expected to adopt it.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AG19280110.2.31
Bibliographic details
Ashburton Guardian, Volume 48, Issue 76, 10 January 1928, Page 5
Word Count
165STATE OWNERSHIP Ashburton Guardian, Volume 48, Issue 76, 10 January 1928, Page 5
Using This Item
Ashburton Guardian Ltd is the copyright owner for the Ashburton Guardian. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Ashburton Guardian Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in