  We consider a hypothetical possibility of the variability of light velocity
with time and position in space which is derived from two natural postulates.
For the consistent consideration of such variability we generalize
translational transformations of the Theory of Relativity. The formulae of
transformations between two rest observers within one inertial system are
obtained. It is shown that equality of velocities of two particles is as
relative a statement as simultaneity of two events is. We obtain the expression
for the redshift of radiation of a rest source which formally reproduces the
Hubble Law. Possible experimental implications of the theory are discussed.
