Synopsis By: Lurie - Proceeding Author: Sir John C. Wood

The author describes the industrial relations policies and dispute resolution mechanisms in Britain, and their efficacy following the election of the Labour Government in February 1974 and the reliance of that government upon an unspecified “social compact or contract.” Th3 policy failed to stem rapidly increasing pay settlements which quickly ran up from the region of 10 percent to 30-35 percent. In an attempt to deal with this, the Government introduced a formal pay policy.