National Economic Development Council
Encyclopedia
The National Economic Development Council (NEDC) was a corporatist economic planning
forum set up in the 1962 in the United Kingdom
to bring together management, trades unions and government in an attempt to address Britain's relative economic decline. It was supported by the National Economic Development Office (NEDO). Both were known as Neddy and subsidiary sector-based organisations dealing with individual industries or sectors of business were termed "little Neddys".
It was outlined to the House of Commons in July 1961 by then Chancellor, Selwyn Lloyd
, and first met in 1962. It was modelled on the French Economic and Social Council
, and it remained an influential player across the 1970s governments of Edward Heath
, Harold Wilson
and James Callaghan
in terms of setting future strategy for UK business and industry, though not in terns of industrial relations. It was headed by a series of consensual industrialists, notably John Cassels and Geoffrey Chandler, both of whom were industrialists who sought consensus policies.
Margaret Thatcher
distrusted both planning and corporatism and mainly ignored the body throughout the 1980s. It was finally abolished by John Major
in June 1992.
However within the European Union
the United Kingdom is a member of a similar international body, namely the European Union
's Economic and Social Committee
.
Economic planning
Economic planning refers to any directing or planning of economic activity outside the mechanisisms of the market, in an attempt to achieve specific economic or social outcomes. Planning is an economic mechanism for resource allocation and decision-making in contrast with the market mechanism...
forum set up in the 1962 in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
to bring together management, trades unions and government in an attempt to address Britain's relative economic decline. It was supported by the National Economic Development Office (NEDO). Both were known as Neddy and subsidiary sector-based organisations dealing with individual industries or sectors of business were termed "little Neddys".
It was outlined to the House of Commons in July 1961 by then Chancellor, Selwyn Lloyd
Selwyn Lloyd
John Selwyn Brooke Lloyd, Baron Selwyn-Lloyd CH PC CBE TD , known for most of his career as Selwyn Lloyd, was a British Conservative Party politician who served as Foreign Secretary from 1955 to 1960, then as Chancellor of the Exchequer until 1962...
, and first met in 1962. It was modelled on the French Economic and Social Council
French Economic and Social Council
The Economic, Social and Environmental Council of France is a consultative assembly...
, and it remained an influential player across the 1970s governments of Edward Heath
Edward Heath
Sir Edward Richard George "Ted" Heath, KG, MBE, PC was a British Conservative politician who served as Prime Minister of the United Kingdom and as Leader of the Conservative Party ....
, Harold Wilson
Harold Wilson
James Harold Wilson, Baron Wilson of Rievaulx, KG, OBE, FRS, FSS, PC was a British Labour Member of Parliament, Leader of the Labour Party. He was twice Prime Minister of the United Kingdom during the 1960s and 1970s, winning four general elections, including a minority government after the...
and James Callaghan
James Callaghan
Leonard James Callaghan, Baron Callaghan of Cardiff, KG, PC , was a British Labour politician, who was Prime Minister of the United Kingdom from 1976 to 1979 and Leader of the Labour Party from 1976 to 1980...
in terms of setting future strategy for UK business and industry, though not in terns of industrial relations. It was headed by a series of consensual industrialists, notably John Cassels and Geoffrey Chandler, both of whom were industrialists who sought consensus policies.
Margaret Thatcher
Margaret Thatcher
Margaret Hilda Thatcher, Baroness Thatcher, was Prime Minister of the United Kingdom from 1979 to 1990...
distrusted both planning and corporatism and mainly ignored the body throughout the 1980s. It was finally abolished by John Major
John Major
Sir John Major, is a British Conservative politician, who served as Prime Minister of the United Kingdom and Leader of the Conservative Party from 1990–1997...
in June 1992.
However within the European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
the United Kingdom is a member of a similar international body, namely the European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
's Economic and Social Committee
Economic and Social Committee
The European Economic and Social Committee is a body of the European Union established in 1958. It is a consultative assembly composed of employers , employees and representatives of various other interests...
.