A new and important dimension was introduced by the decision of the National Economic Development Council (‘Neddy’) on 6 February 1963 to approve the objective of a 4 per cent a year growth rate for the economy. This committed the Government up to the hilt, for the Chancellor was chairman and there were two other Cabinet Ministers there: indeed, only the Government could truthfully be said to be committed to any action by the decision, for the industrialists and trade unionists could not be regarded as delegates committing their organisations. The General Council of the TUC had specifically made this a condition for accepting Mr Selwyn Lloyd’s invitation to be represented. In their letter of 24 February 1962 to the Chancellor, they said:
[In accepting the invitation] they wish to emphasise that they attach great importance to the right of the members of the NEDC to report to the organisations which they represent, and that they would not regard association with NEDC as debarring those organisations from expressing in public such reservations as they might hold about government decisions on economic policy.
The members from the management side of private and nationalised industry were representing themselves, though many were closely associated with the original constituents of the present CBI.
KeywordsTrade Union Public Expenditure Cent Objective Economic Planning Income Policy
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