The Radcliffe Report

S. R. Dennison and John R. Presley
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S. R. Dennison: University of Hull
John R. Presley: Loughborough University

Chapter 8 in Robertson on Economic Policy, 1992, pp 116-124 from Palgrave Macmillan

Abstract: Abstract In May 1957 the Chancellor of the Exchequer, Mr Thorneycroft, appointed a Committee ‘to enquire into the working of the monetary and credit system, and to make recommendations’. The Chairman was Lord Radcliffe, a distinguished judge, who had already shown his expertise as an odd-job man over the Royal Commission on the Income Tax, the BBC, an abortive constitution for Cyprus, etc. The other members consisted of two economists, Professors Sayers and Cairncross, both products of Cambridge; two bankers, one being Oliver Franks, the versatile Chairman of Lloyds Bank; two industrialists, one having also long civil service experience; and two trade union characters. The Committee produced a unanimous report in August 1959; a considerable literature has already grown up around it, which will doubtless grow further when the four fat volumes of Memoranda and oral evidence, which have mercifully been delayed, become available in March. The report has been debated for one day in each of the Houses of Parliament, and the Government has disclosed its attitude towards some, though only some, of its findings; in respect of others, the Chancellor very reservedly said, ‘I must leave people to judge our policy by what we do rather than what we say.’

Keywords: Liquid Asset; Treasury Bill; Royal Commission; Bank Rate; National Debt (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1007/978-1-349-12501-2_8

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