It's the same the whole world over . .
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THERE IS little to choose between the economic climate: of Britain and Australia and the causes are much the same in both countries. For many years says the financial correspondel of Australia's Truck and Bus Transportation, "employers an employees indulged themselv( in ever bigger rewards for less and less effort."
The result is 10 per cent unemployment but Australian workers have yet to learn the lesson that is at last penetratini the skulls of their British colleagues. Workers at the Hyster factory in Scotland are not alone in seeing the light an accepting, albeit reluctantly, a pay cut to save their jobs.
By contrast, International Harvester employees are playing Australian roulette witl their future. "Strike action has won employees of the troublec company a degree of priority f( retrenchment entitlements ove claims of secured creditors," says the magazine's correspondent.
"To protect their claims, secured creditors are seriously looking at liquidation. Rather than some jobs which may haNd emerged with a lean IH from reconstruction under receivers the result may well be no jobs and no IH under the liquidators