Clawback on your wages ?

So at work today, the boss was talking about the company giving pay raises for 2024. I remarked I am good with whatever comes along as long as there is no clawback. This comment got weird looks from my co-workers until I realized they did not know about 'clawbacks' from Canada's Anti Inflation Board. I had to give them a quick history lesson from the 1970s. In 1974, Canada's inflation rate was 11 per cent. In January of 1975 it was over 12 per cent.

This is a page from the North Bay Nugget in 1975. The Canadian government brought in strict measures to control inflation. Stores were not allowed to raise prices and employers and workers had to accept controls on their wages. Clawbacks became a thing. If your boss gave you too much of a raise -- let's say more than five per cent -- the board would issue a clawback order and you had to settle for a lower raise. I wonder what people would say today if something like this happened.