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The 70s revival continues

Anyone else remember the 'Social Contract'? Folk under 40 can skip this question

Here is how the '74 Labour party manifesto outlined it: "At the heart of this manifesto and our programme to save the nation lies the Social Contract between the Labour Government and the trade unions, an idea derided by our enemies, but certain to become widely accepted by those who genuinely believe in government by consent - that is, in the democratic process itself as opposed to the authoritarian and bureaucratic system of wage control imposed by the Heath Government and removed by Labour".

It was not a huge success.

So much for the brief excusion down Rue de Mémoire. Some bright spark at MSF cough Amicus, double cough, Unite The Union has hit on it as a grand term for something it has cooked up:

"Unite the union will today (Tuesday 28th October) launch a ‘Social Contract’ for the financial services industry. The principles which set out how the finance sector now needs to be reformed will be launched at a meeting of hundreds of senior workplace representatives from Unite and MPs in the House of Commons".

And what do they want, apart from featherbedding they richly deserve as knights of commerce?


"The Unite Social Contract states:

1. Recognition of Unite as a key stakeholder in the future of the financial services industry. (B/S speak for undue power and influence)

2. To ensure the employment security of employees in the finance sector. (Jobs for life at the expense of the tax payer)

3. To protect and improve the terms and conditions of employees, including pension arrangements. (Guess who's paying... Does not apply to their class enemies, natch)

4. End the remuneration packages of senior executives which reward short-termism and irresponsible risk taking. (As opposed to responsible risk taking, obviously. Isn't hindsight just dandy? Nice bit of class warfare there)

5. Overhaul of the regulatory structures of the financial services sector to include trade union involvement in order to enhance the accountability of finance institutions. (What about including banking professionals in trade union structures, or is this new syndicalism a one way street?)

So, nothing very self-denying there, but note the high quality footnote:

"Finance workers will protest to demand changes to the structure of the finance services sector. With a life size ‘Social Contract' and wearing t-shirts stating: "STOP BANKERS GREED".

I do believe we have an irregular verb:

I yearn for social justice, you fancy a pay-rise, he is greedy

Improvements to that off the cuff effort are welcome

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Blogger Nick Drew said... 4:37 pm

almost stopped reading this post at the first line, C, then I realised *ahem* it was aimed at me

(first general election I ever voted in, coughs)

I am a key stakeholder; you are a worker; he is a shareholder-parasite  

Blogger Croydonian said... 4:57 pm

Marvelous, Mr D. I do love a good irregular verb.

I remember watching the October '74 results the morning after with the younger son of the Labour candidate for Bury St Edmunds. He did not win.....  

Blogger Simon Fawthrop said... 5:24 pm

The 70's, those were the days, what joy we had dealing with strikes and inflation. Oh how I yearn for those trips to the pub where you find that beer is more expensive than it was the night before, but you didn't realise because you couldn't see your change because of the dim candle light.

The only thing missing off this list is a return to the Closed Shop, then we'd have a full house of self serving demands!  

Blogger Croydonian said... 5:47 pm

Apart from the delights of being a small person, about the only thing I miss from that decade is the Newton pound note.  

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