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Reflections of an Ex-Magus

In: Robertson on Economic Policy

Author

Listed:
  • S. R. Dennison

    (University of Hull)

  • John R. Presley

    (Loughborough University)

Abstract

On 25 July 1957, the Chancellor of the Exchequer (Mr Peter Thorneycroft) announced in the House of Commons that the Government had decided to set up a Council on Prices, Productivity and Incomes with the following terms of reference: Having regard to the desirability of full employment and increasing standards of living based on expanding production and reasonable stability of prices, to keep under review change in prices, productivity and the level of incomes (including wages, salaries and profits) and to report thereon from time to time. On 1 August, the Chancellor wrote to Robertson to say that the Prime Minister hoped that he would accept appointment as a member of the new Council. He said that it would be ‘quite a small body’ with (in confidence) Lord Cohen (Lord of Appeal) as Chairman, and ‘no more than two or three other members’. He added that the work should not make ‘too heavy demands on your time’, and suggested that they should have a talk before reaching a decision.

Suggested Citation

  • S. R. Dennison & John R. Presley, 1992. "Reflections of an Ex-Magus," Palgrave Macmillan Books, in: S. R. Dennison & John R. Presley (ed.), Robertson on Economic Policy, chapter 7, pages 95-115, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12501-2_7
    DOI: 10.1007/978-1-349-12501-2_7
    as

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