Finance and Industry
What is an incomes policy?
Last month we examined the wealth of people at the time they leave this world and found, in the majority of cases, that they had little to leave. Could it be that working on the basis “you can’t take it with you” they had the wealth at one stage, but had frittered it away on a merry-go-round of solo, scotch and sex? Alas, the answer, as they say in the best American war films, is negative.
For our evidence on this point we again turn to the report of the Commissioners of Inland Revenue for the year 1964-65, where we find the table of personal incomes for the year ended 5 April. 1964, on page 82: —
| Range of income | Number in thousands | Total incomes in £ milions | |
| 275 – 1,000 | 14,239 | 9,024 | |
| 1,000 – 1,500 | 4,729 | 5,670 | |
| 1,500 – 2,000 | 1,036 | 1,755 | |
| 2,000 – 3,000 | 477 | 1,136 | |
| 3,000 – 5,000 | 228 | 857 | |
| 5,000 – 10,000 | 106 | 706 | |
| 10,000 – 20,000 | 22 | 291 | |
| 20,000 – ? | 5 | 161 |
It is difficult to understand how so many people enjoy such affluent pursuits as Continental holidays and motor cars, until it is realised that of 12,780,900 married men included in the above table 36 per cent of them send their 4,592.000 wives out to work.
We do not intend to join the argument here as to whether the place of a wife is in her home. But the evidence does suggest that there is a large number of families who might be homeless if the wife did net bring home that additional pay packet.
There are some ladies of course who are not even bothered by the thought of losing their job because of the Selective Employment Tax as they are already in the £20,000 per year class.
What can a government armed with an “incomes policy” do about such incomes? If words were the answer it would all be resolved by now. But the words have to be translated into actions that are consistent with capitalism. And the only thing consistent about capitalism is that the few will continue to exploit the many—just as long as the many are prepared to stand for it.
Them and us
One thing abundantly evident from the previous item is that we still live in a world of them and us. The wide disparity of incomes coldly tabulated in columns of figures can be confirmed upon examining the dual quality of commodities produced, even those satisfying such basic human requirements as a house to live in.
The latest occasional bulletin issued by the Co-operative Permanent Building Society is an analysis of the 2,802 people to whom they advanced mortgages, during the quarter December, 1965-February, 1966, to purchase new dwellings. From the survey Mr. Average emerged as 28 years of age, producing a deposit of £846 toward a house costing £3,864; and earns £24 14s. 0d. per week from which to pay a mortgage of £20 9s. 0d. per month for approximately 25 years.
As two-thirds of these workers were buying homes for the first time they were probably pleased to get them before the increase of “hundreds of pounds” threatened by the National Federation of Building Trade Employers in response to the government’s proposals to raise the standards required of building and house equipment.
If this is how some younger members of the working class are trying to acquire a piece of the property-owning- democracy—and you will notice there is a prejudice against the older ones—how does the enemy fare?
The London Evening Standard carries a property news page, and on July 7 it had items on the following which might be of interest to you. A fifth-floor flat overlooking Hyde Park; the owner. Val Parnell, only asks £37,000. Are you a top executive fed up with commuting and want to move back into London? Your solution is in course of erection at Enismore Gardens, price range £35,000-£68,000. Perhaps you are only a younger executive, then unfortunately you must commute to the riverside at Chiswick, mooring fees are £13,000-£I8,000. Did you enjoy canvassing for the Socialist Party of Great Britain in Hampstead at the last election? Then you will be sorry you missed the eight bedroomed house sold recently for £40,000 by Sir Arthur Porritt, the Queen’s surgeon.
Do you still think there is an equality in poverty?
146 Shopping days to Christmas
Most newspapers make claims on the earnings of their readers in the scramble to attract advertising. And although many products are advertised in most newspapers there are some which only appear in those papers generally thought to be read by the higher income groups.
In case you missed the Sunday Times of July 3, we would like to bring the following to your notice, which might be of some help when preparing your present list for Christmas.
Firstly, Dupont have a new range of lighters selling at £10 I5s.-£165 and they even boast that “a few people can afford a Dupont.”
Secondly, if you are fed up with the old plastic salt and pepper pots used by your mother-in-law, nip along to Gerrard, the crown jewellers; they have a silver set for £44 10s. Or perhaps she would prefer the sauceboat for £24 10s., the sugar dredger for £25 or the coffee pot for £101 10s.
When you go, please don’t show your working class origin. Don’t ask for trading stamps.
RAY GUY