Wages Councils recently proposed the following awards, at time of wri» ting it is not known whether they have been approved by the Ministers Managers and Club Stewards Old rate: Men £8.18.6a Women &7.12.6d
New ut £9.18.6a x £8. 7.6a Aerated Wators workers Ola " " £7217.6da " £5.11.0d
New " " £8. 5.64 " &5.17.0d
von
Thore are increasing doubts in banking circles about the effecti of using the bank rate as an economic regulator, ‘Jriting in the current issue of Bankors Magazine, Mr. B.it, Conan estimates that with the bank rate at 6 per cent that cost of paying interest to overssas holders of sterling balances may be in rae order of £175 million. In 1950, before the bank rate was rediscovered as an economic regulator this cost was only in the order of £33 millions por year.
This is by no means the only 'debit' effect of the use of the bank rate. The earnings of foreign firms operating in Britain are larger and growing fastere Naturally, investment is concentrated in the most highly profitable industries. The expansion of these firms is largely from retained profits, it does not, therefore assist the balance of payments so much, once the initial investment has been made. On the other hand, net dividends and transferred profits are a drain on the balanta. If oxpansion slows down or if the Government of the country concerned insists upon a larger proportion of the profits being repatriated (as, indeed, the U.S. Government because of its balmce of payments probloms is very likely to do so) their will be a tromendous drain on the balances. The process can bo likened to what takes place in semi-colonial countries with large foreign investments. Thus we sse that short torm palliatives adopted by the tories ars having the effect of piling up long ten contradictions which will make more chronic the ills of the British capitalist sy- come THE COLOUR BAR BILL IS PUBLISHED.
We now have the full proposals of the Government's colour bar bill on immigration. It is not necessary here to go into all the ramifications but certrin things erge quite clesrly. Firstly, the bill has class, colour and political bias unhista written ine Tho rich man, no matter what his colour, will have no difficulty in getting in because they will be ‘able to satisfy the imuigration officer that they can support themselves and their dependents without working here, ! All informed opinion has,after study, come to the conclusion, that because of the vast administrative organisation and other complications, that it will not in practice apply to Irishmen coming here. From that,in turn, is drawn the conclusion that tle bill is essentially directed against coloured immigration. Tho political implications can be seen from the fact that Vouchers will be refused to anyone whose prosence would be "contrary to the interests of national security".
The bill is expected to cost £500,000 to run and will mean a complex system involving immigration officors at the ports. Immigrants will be expected to have their Minister of Labour vouchers before sailing but even then, although he will not have to obtain leave to land, he can be turned away or be only admittod subjoct to conditions. The latter cculd include restriction on longth of stay or on his occupation in the UK. This aspect alone will oporate against immigrants from the West Indies and India,
Very significantly, although the main provisions of the bill are for » five year period only, it is proposed to make the powers of deportation a permano: feature. This,as noted before, is a most vicious weapon which the Government has brought in under a smokescreen of general discussion about immigration. Those who do not oppose this aspect of the bill are doing a gravo disservice to the fight against the colour bar.