ord settlement is mot merely cosmetic'
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DESTRUCTIVE are the effects of d's strike that the new model prommes have been disrupted for years !ad, Sir Terence Beckett, chairman managing director, said this week. ,nd after this long strike, calculations wed that the Prime Minister's recent lments that employees would have n better off accepting five per cent h no strike were substantially correct. ;lit the company's wage settlement is • inflationary, said Sir Terence. He • lained that all of the wage award in :ess of five percent will be wholly 'need by a productivity deal. But, he s asked, was this a partly cosmetic eement?
ord takes the whole risk, he said, ause "we will not price our labour in this round beyond the five per t norm." Therefore, he argues, it is a tribution to the Government's policy olding inflation down to single figs.
ir Terence said that this year profits tax amounted to £120m. It would e nearly nine years of profits at this are to pay for the already announced )58,000,000 investment plan for the :t four years. NATIONALISED industries have been "invited" to join with government departments in blacking contracts with Ford.
The long expected sanctions imposed in response to Ford's pay code busting wage settlement take three forms.
Where counter-inflation clauses exist in current contracts departments are at liberty to consider cancelling them.
Except under circumstances where no alternative is available the purchase of Fords is being banned.
The third form of the sanctions allows the Government to reconsider the allocation of grants loans subsidies and export credits.