Stockbrokers warn of class- war confrontation

'Left' talk fails to fool talkers in the trade union leadership who, when it comes to the crunch with the Tories, are really prepared to do absolutely nothing.

On Monday night over 200 of them were treated to a long bluster at Woolwich town hall from Bob Wright, executive councilman of the Amalgamated Union of Engineering Workers.

But eventually he had to admit — to groans from the audience of 200 tenants - that he was in favour of continuing the talks with the Tories on their plan for state pay control and was opposed to calling industrial action to bring down the Heath government.

Wright's first contribution was militant enough to confuse most of the tenants. "Rent, interest and profit were the foundation stones of the Tory party,' he told tham.

*Rachmanism has now been made legal by the Housing Finance Act. Therefore we must see the need to unite as trade unionists, tenants, Labour Party members or supporters of other socialist parties - forget our differences to fight injustice.

He explained how the Common Market would raise prices by up to 30 per cent over the next three years.

Tory policy was to use the Industrial Relations Act to disarm the trade unions, and to create 'a subservient leadership' and *responsible trade unions' responding to the dictates of the law.

Wright appeared to attack the pay plan. 'My union has no doubt where it stands if the government believes the current discussions are intended to place the burden of so-called inflation on the backs of workers.' The AUEW, he said, would not accept £2 or £3 unless the government withdrew the 'fair evers hen ande othere liots, ared even then they were not nte. pared for the government to determine the wages of our members'.

Wright called for the nationalization of urban land without compensation by the next Labour government, the repeal of the Housing Finance Act and so on.

leadership has got to defeat the Tory government and the Act. I am confident with your solid support we can force a General Election and get rid of the Tories and their rotten policies, he finished to strong applause. ing London firm of stockbrokers has warned big business and finance to prepare for an inevitable, all-out confrontation with the working class this winter.

The firm, Buckmaster and Moore, members of the Stock Exchange, tell their clients in their October investment review that they 'believe that this government will not lose their nerve in the face of such a confrontation'.

At the same time the document reflects the pessimism in the ruling class about the prospects for the economy and the dangers of uncontrollable inflation. Government boasts about any real growth in the economy next year are cynically written off by Buckmaster and Moore.

Discussing the inevitable resistance in the working class to any Greenwich tenants GREENWIN TENANTS REDONE CHARA MITE With CAMPAIGN WITH WITH TON TENANTS Bob Wright addresses Monday's meeting But within ten minutes the audience had fallen silent when he replied to a question from a tenant who was also a member of the AUEW. Wright was asked if considering his call for an election he would break off talks with the Tories and fight for industrial action to bring them down.

'The talks the TUC are having with the government should take place,' he answered, to surprised murmerings from tha tenants who had gathered the impression he was in favour of ending them.

In trying to apologize for this position, the AUEW leader said the unions had faced a 'vicious campaign in the Press' blaming the unions for inflation. Although this was a 'distinct betrayal of truth', the unions should not refuse to talk with the Tories.

Tack Jones and Hugh Scanlon represent the true voice of the trade unions at the talks,' said Wright. They would force the Tories, not the unions, to break off the talks.

Wright conveniently omitted to mention Jones' actual, advice to the Tories who were worried any 'ceiling' figure agreed in the talks would go onto basic rates and influence other earnings. (It was Jones who suggested the wage plan figure should be tacked on to wage packets as a agreement on a wage plan by the TUC with the Tories, the brokers warn shäre buyers that at this stage they should recognize the dangers of a confrontation with organized labour' Feeling the momentum building up in the working class for an all-out fight with the governnent, they say the wages plan has 'not unexpectedly, provokea a storm of protest... and could be seen by the more militant sections [of the unions] as an opportunity to bring down the government'.

Then also seeing that the trade union bureaucracy will not find it so easy to carry the day on the Tory plan, the brokers tell their clients in industry and finance that the 'question is whether such an agreement could ever be enforced in practice.

"The evident difficulty of enforcing the law against them in the case of even the most flagrant violations (e.g. the dockers) will apply equally to any agreement restricting wage increases' At this point in their analysis, 'government bonus' so as to prevent the 'wages drift' the employers fear.)

On the question of industrial action to bring down the Tories, Wright was even more apologe'Industrial action must come from the workers themselves and top, never be directed from the can never be directed from the stroke abdicating all responsibility for leadership against the Tories.

He said the union leaders will not stand in the way of our members' if they wanted such action.

Wright's apologies were an unsuccessful attempt to make up for the lack of leadership from the Greenwich Tenants' and Residents' Campaign Committee as a whole, made up as it is of Labour Party talkers, Communist Party members and the local vicar, Graham Swain.

Labour Party councillors only asked the tenants to keep the pressure on the local right wing in the council who had decided to implement the 'fair rents' Act. Repeated calls to withhold the rent were made to tenants who were clearly beginning to see that such action by itself would not stop the increases from going through.

The leadership of the campaign committee is opposed to which follows a meeting of all the firm's partners, they make it clear to clients that the middle opinion', will have to be mobil. ized against workers, to isolate and, hopefully, defeat them.

It may be that before any progress can be made in this direction [of enforcing the wage plan], public opinion will have to become much more thoroughly alarmed than it has been so far by the threats of union violence' In other words, Buckmaster and Moore, and the leading counting houses of British capitalism have thrown their weight in behind Home Secretary Robert Carr's suggestion that picketing is violent and unlawful and requires the use of riot squads.

And if the wage plan should be inade unworkable, 'the outcome may be a General Election if the government feel they have The support of public opinion against the unions'.

As far the economic situation goes, the brokers appear extremely nervous about prosGREENVICH OUR COUNS 2i:00m COMMITTER uniting with other workers to lead a campaign in the area to bring down the Tories and return Labour government pledged to socialist policies.

If the 1,000 Greenwich tenants not paying their £l increase are not to be left isolated and demoralized at the end of the day, it is a matter of urgency that the political fight be taken up against the Tories. While the Tories remain in power, so does the 'fair rents' Act.

would like information about THE SOCIALIST LABOUR LEAGUE Fill in the form below and send to SECRETARY, SOCIALIST LABOUI 186A CLAPHAM HIGH ST, LONDON, Name Addre pects, considering the lash that has to take place with he working class.

Seeing the äbolition of bank rate as an attempt to curb the money supply, it is cynical about claims that the economy will grow. The stockbrokers write: "The government has committed itself (for what this may be worth) to a policy aimed at 5 per cent growth in real terms during the next 12 months.!

Losing their cool at the implications of what they have been saying, Buckmaster and Moore, warn sharebuyers that *at this stage they should recognize the dangers of a confrontation with organized labour'.

'We believe [but they are not quite certain] that this government will not lose their nerve in the face of such a confrontation, but its possible effect market prices is quite unpredictable.' And after all this they recommend 'caution' in the purchasing of gilt-edged shares, which are government stocks themselves!

NATION.

LEAGU SW4 7UG.