Treasury urges wage restraint across economy : LUSENET : TimeBomb 2000 (Y2000) : One Thread

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Wednesday February 16, 10:05 AM
Business News

Treasury urges wage restraint across economy

LONDON (Reuters) - The Treasury has urged restraint on pay after official data showed a strong rise in average earnings growth, to 5.5 percent, in the three months to December.

"This month's figures, which include a particularly large bonus component linked with millennium work, reinforce the need for all of us to show responsibility on pay," said a Treasury spokesman.

"We must not pay ourselves more than we can afford now at the cost of higher interest rates, lower growth and fewer jobs tomorrow.


-- Maher Shalalhashbaz (, February 16, 2000


Look, Treasury Baby, I'll stop paying myself (right, and how do you do that by the way?) more than I should when I see the CEOs get lower compensations. In the meantime, I'll grab EVERYTHING I can. Got it?

-- Watching the world (_@home._), February 16, 2000.

TRANSLATION: The party's almost over.

-- (@ .), February 16, 2000.

Might consider it, if the government followed its own advice. The fact that the TPTB can vote for their own raises does not settle well with me.

-- Tim (, February 16, 2000.

This is UK news -- NOT -- the US.

-- Jackson Brown (, February 16, 2000.

Good point, Jackson...hopefully the pols in Wahington won't consider this mode of thought.

-- Tim (, February 16, 2000.

Oh - I get it:

Don't raise pay, now that companies are apparently more profitable.......and their workers are more productive.


Don't worry, here, the Clintons' administration has already "cooked" the inflation figures last quarter to artificailly keep inflation low, the stock market high - and themselves in power. Wait for the oil crunch to see wage and price controls go into place......the Brit's are simply doing it earlier - by "asking" companies not to raise pay.

-- Robert A. Cook, PE (Marietta, GA) (, February 16, 2000.

Hey guys ask " Shuggy " he might not object......

-- kevin (, February 16, 2000.

UK News Story - Not U.S. But for those too young to remember what we adults were dealing with in the 70's, Nixon made our lives miserable for too many years with wage and price controls. I remeber that recession all too well but I'm ready for anything now - plenty of food, water, firewood, etc. At least this time I'm not pregnant and poor.

-- turkeylurkey (, February 16, 2000.

Watching the world, point well made! I just found out our director makes over 200K a year of YOUR tax dollars. No wonder I can't get any money in my budget to supplement psychiatric meds for our indigent patients.

-- Hokie (, February 16, 2000.

"Treasury urges wage restraint across economy"

Hawk urges that the Treasury take their advice and shove it up their overpaid bureaucratic asses, and from now on mind their own goddam business.

-- Hawk (flyin@high.again), February 16, 2000.

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