The Economy
Sir, —I wonder if Mr Walsh has considered the possibility of a 10 per cent reduction in wages and salaries as a cure for the ever-rising cost of living. Wage rises do not correct it; they are a contributory cause. Those who advocate higher taxation to curb spending know that this is really a reduction in wages, the difference being this money has gone into the cost of production, whereas a reduction at the source reduces cost of production and helps reduce cost of living. The internal loan now being raised, instead of raiding the people’s money box (by taxation) offers to pay for the use of it for a term, knowing help now will tide the country over a crisis caused by over-importing and low prices overseas for produce depleting the treasury, running us short of funds for necessary public works. Giants to be fought are: selfishness, greed and laziness.—Yours, etc.. B. CONSTANT. November 23, 1961.
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Press, Volume C, Issue 29680, 25 November 1961, Page 3
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159The Economy Press, Volume C, Issue 29680, 25 November 1961, Page 3
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