BRITISH ECONOMY
X\ ages lead prices
LONDON. February
British workers increased their average earnings by a record 29.1 per cent last year, a Government report shows.
Wages are running well ahead of price increases retail prices rose in the same 12 months by 19.1 per cent.
The earnings record — the latest in a series of statistical peaks set by the British economy under the pressure of inflation — will provide new ammunition for those urging tougher Government action to restrain trade unions. There is already concern that the 28 to 35 per cent wage settlement won bv coalminers last week will give rise to a new round of inflationary pay claims.
) 1 ) Sictss set-back Exports of Swiss watches 1 and cheese are being priced out of the international mar- < ket by the soaring rate of the 1 Swiss’ franc. Watch exports | fell 23 per cent in December I and three large watchmaking ! groups yesterday announced;! reductions in staff and a de- i crease in working hours. ■< [Cheese exports have fallen! )13 per cent in six months.— 1 Berne, Feb. 20.
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Bibliographic details
Press, Volume CXV, Issue 33774, 21 February 1975, Page 13
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179BRITISH ECONOMY Press, Volume CXV, Issue 33774, 21 February 1975, Page 13
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