Netherlands ‘freeze’
(N.Z.P. A.-Reuter—Copyright) THE HAGUE, Dec. 6. The Dutch Government today signed an agreement with employers and unions to freeze profit margins and control price rises next year. Representatives of all three parties noted that the agreement, described as a “social contract,” harmonised with a record statutory price control system introduced by the Government. Under the agreement wage rises will be limited to 3.5 per cent during the year, but there will be compensation for workers to cover price rises. On prices, it was agreed that increases would be restricted to 5.75 per cent next year, and price rises would be controlled in such a way that the average profit per unit remained constent. The agreement also provided that where possible inevitable price increases would be spread out over a long period. Firms making relatively high profits would be pressed to keep their prices below the official ceiling.
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Press, Volume CXII, Issue 33094, 8 December 1972, Page 13
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149Netherlands ‘freeze’ Press, Volume CXII, Issue 33094, 8 December 1972, Page 13
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