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PESC in 1963–1964

In: Public Expenditure, Management and Control

Author

Listed:
  • Richard Clarke
  • Alec Cairncross

Abstract

The first half of 1963 was a difficult period for expenditure decisions. The reflationary policy and situation had greatly weakened the brakes: any relaxation of the normal Treasury pressure against expenditure is bound to have this effect, even if it is supposed to be highly selective (e.g. for short-term projects only). The Government’s adoption of the 4 per cent growth objective had similar effect. The General Election was coming into sight. The terrible weather in January and February, with the interruption of outdoor work, led to high temporary unemployment and mistaken fears that the Government’s reflation policy was failing.

Suggested Citation

  • Richard Clarke & Alec Cairncross, 1978. "PESC in 1963–1964," Palgrave Macmillan Books, in: Alec Cairncross (ed.), Public Expenditure, Management and Control, chapter 8, pages 78-85, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-03738-4_8
    DOI: 10.1007/978-1-349-03738-4_8
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