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...we must avoid a competitive raising of wages and conditions in a scarce labour market, which raises prices. ... If we allow prices to rise because… - Stafford Cripps
" "...we must avoid a competitive raising of wages and conditions in a scarce labour market, which raises prices. ... If we allow prices to rise because of internal costs rising, we shall lose and not gain our overseas markets, or at least not be able to gain new ones in the competition. Therefore, incentives must be strictly limited to increased production so that more earnings mean more production. We cannot in any circumstances afford to pay more for the same or less production. We must await the further raising of the levels of earnings until we can provide the goods upon which those earnings can be spent. In the same way, let me point out, that large profits drawn from industry today are just as inimical because they, too, raise the price levels and, furthermore, they offer an immediate temptation for the demand for greater salaries.
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About Stafford Cripps
Sir Richard Stafford Cripps (24 April 1889 – 21 April 1952) was a British Labour Party politician, barrister, and diplomat. He served as British Ambassador to the Soviet Union at the beginning of World War II, and later joined Prime Minister Winston Churchill's war cabinet. He later served as President of the Board of Trade and Chancellor of the Exchequer under Prime Minister Clement Attlee.
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Richard Stafford Cripps
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Sir Richard Stafford Cripps
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Additional quotes by Stafford Cripps
Production, and production alone, can find us relief in our immediate situation. It is no part of the British character to resign ourselves to such difficulties or to fail to take the measures, however hard, to overcome them. It has been truly said that by our faith we can move mountains. It is by our faith in ourselves, in our country, in the free democratic traditions for which the people of this country have for centuries fought and battled, and for which they must fight again as willingly on the economic front as upon the oceans, on the land and in the air, it is by our faith in the deep spiritual values that we acknowledge in our Christian faith, that we shall be enabled and inspired to move the present mountains of our difficulties, and so emerge into that new and fertile plain of prosperity which we shall travel in happiness only as the result of our own efforts and our own vision.
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