A cool response to Tory Chancellor

Green, Orange and Blue Tories in Ulster manoeuvres counterpart Sir Alec Douglas Home yesterday for talks on the EIRE foreign minister Dr Patrick Hillery visited his British Tory worsening situation in Ireland.

Home was expected to administer a mild rebuke to Hillery for his 'diplomatic discourtesy' in visiting Belfast's Falls Rd area without informing Westminster Hillery, in turn, was expected to ask Home to call ofi the Orange Day parades scheduled for July 13.

Home Secretary Maudling unsuccessfully pleaded with Orange leaders to call off the parades—which are expected to spark widespread disorders - when he met them on Tuesday.

Hillery's visit undoubtedly had more to do with the crisis brewing in the South than with the trouble in the North.

Shaky

The Fianna Fail Lynch government in Dublin is as shaky as the ChichesterClark Unionist regime in the six counties.

Hillery's trip, made with Lynch's full approval, was no doubt designed to foster the illusion that the Dublin government is taking action over Ulster.

In fact, Lynch has a vested interest in seeing Chichester-Clark kept in power.

The Eire governmént is said to have felt that only a dramatic gesture like the Hillery trip could impress the Westminster and Stormont Tories with the urgency of calling off the Orange parades.

The Unionists reacted to the visit with expressions of appalled outrage. But this is purely for home consumption.

They, too, realize the need to maintain Lynch in office.

Game

The Tories of all shades, Green, Orange and Blue, are now engaged in an elaborate game of shadow-boxing as the july 12 celebrations loom closer in N Ireland. MR IAIN MACLEOD'S first speech as Chancellor of the Exchequer in the House of Commons on Wednesday met with a decidedly cool response in the City of London.

Corby

formula A FORMULA for ending the three-week-old strike of 2,100 craftsmén at the British Steel Corporation's Corby steel plants was being studied yeterday by the strike committee.

It was hammered out after seven-and-a-half hours of union-management talks at the Départment of Employment and Productivity.

A strikers' meeting is unlikely to held before tomorrow.

the RUC ex-Minister recalled to the party, he added.

Sir Arthur Young told Belfast Young Unionist leaders yesterday that the rearming of the RUC was a matter for the Stormont government.

I came to Belfast to implement the Hunt report, The Rev Ian Paisley, who strongly supports the rerming of the RUC and th formation of the l Specials, saw Tory Home Secretary Maudling at the Home Office yesterday. - Not only did the 'Financial Times' ordinary share index show a further 6 per cent drop; the pound fell to a new 1970 low.

Much of the ground gained by the share market in the heady days following June 18 has now been lost.

Following the Wall St trend, London markets are back to where they were as the election campaign opened.

Such is the degree of uncertainty amongst capitalist circles about the ability of the incoming Tory government to deal effectively with the problems of inflation and LEARNED And they will have learned little from Macleod's statéApart Fom. expected platitudes about the 'grave threat' presented by inflation, he had little positive to offer apart from the 'radical and searching' review of public expenditure now being conducted by Treasury officials.

It is clear that the Tories are biding their time until at least the autumn with a close and anxious eye on the international money markets and developments in the American economy.

As The Guardian' City Editor put it (July 8):

"There is little sign that the new team has arrived with any quick answer to the most pressing problem of the day— an intolerably high rate of inflation.' SPENDING CUTS The Tories know that they can only start to deal with inflation through a direct confrontation with the unions, combined with a slashing of government expenditure and the deliberate creation of unemployment. • It is these plans which the City and big business are waiting for.

Only when they arrive and the Tories move to implement them against the working class can there be any turn round on the Stock Exchange and money markets.