BRITISH GOAL MINES
NEW LABOR PROPOSALS STATE OWNERSHIP WITHOUT CONTROL.Press Association—By Telegraph—Copyright. LONDON, January 9. (Received January 10, at 8.20 a.m.) The ‘ Westminister Gazette ’ states that a group of Laborites has presented a new coal policy to Mr Ramsay MacDonald, involving a complete volte face regarding nationalisation, giving prominence to State ownership without control. The policy includes the State acquiring all coal, minerals, and royalties by the issue of bonds to the public, on which dividends amounting to £16,000,000 would be payable annually after three years, during which time the profits would be devoted to unification and the restoration of the seven-hour day. The State would appoint a mining corporation comprising ten business men, coal owners, and trade qnion leaders, receiving each £IO,OOO yearly who shoukl control; the industry, effect amalgamations, unification and work in conjunction with a consumers’ council. _ The proceedings would be debated in Parliament annually.
The Labor Party considers the scheme on January 20, and it is expected to be adopted.
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Evening Star, Issue 19760, 10 January 1928, Page 5
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164BRITISH GOAL MINES Evening Star, Issue 19760, 10 January 1928, Page 5
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