ABSTRACT
THE machinery for dealing with major questions of economic policy with which Britain confronted the emergency of 1947 was largely a legacy from the war years. At this time a dominating position was held by a committee of the Cabinet presided over by the Lord %B5C945>D?6D85?E>39<DD85?6U391<<5F5<D85B5G5B51>E=25B?63?==9DD55CG8?C5 work was co-ordinated by a Steering Committee under the chairmanship of the Permanent Secretary to the Treasury.1
