Catalogue description Records of Economic Planning Divisions

The functions of the divisions responsible for the Treasury's economic planning functions since the Second World War have been the provision of advice on all aspects of economic policy, including fiscal, monetary, and prices and incomes policies; the presentation of these policies; the preparation of economic assessments and forecasts; and industrial development. At times there has also been responsibility for external economic policy, particularly in relation to the European Economic Community.

Functions relating to overseas finance and planning were at times shared with the finance divisions.

The Treasury became the central economic planning department with the appointment of Sir Stafford Cripps as Chancellor of the Exchequer in November 1947. He had been appointed as Minister for Economic Affairs in September of that year and brought with him three recently formed bodies; the Economic Planning Board, a high level advisory body, the Central Economic Planning Staff under a chief planning officer and the Economic Information Unit. He had taken over responsibility for these from the Lord President and also brought with him the regional boards for industry which had previously been the responsibility of the Board of Trade.

The Economic Information Unit became the Information Division in December 1950 when it took over part of the Overseas Planning Division from the Board of Trade, which, however, regained responsibility for the regional boards for industry in 1952.

The Economic Section of the Cabinet was transferred to the Treasury in November 1953, becoming the Economic Advisory Section as its head was now the Government's Chief Economic Advisor.

In 1956 the work of the Central Economic Planning Section was taken over by the Home and Overseas Planning Staff Division (HOPS), which was itself dissolved in the reorganisation of 1958 when three new divisions with economic planning responsibilities were formed; the National Resources Divisions, I and II, and the Overseas Co-ordination Division.

The Treasury reorganisation of 1962 saw the creation of a National Economy Group made up of 2 divisions (I and II). These, however, were transferred to the Department of Economic Affairs (DEA) in November 1964. The Economic Section remained, offering general advice to the administrative departments, only to be abolished early in 1970 when its economists were mainly allocated to the National Economy Group recreated on the disbandment of the DEA in October 1969.

The National Economy Group undertook economic planning functions. Its divisions were responsible for:

• Economic Assessment (EA) - short and medium-term assessments of economic growth;
• Fiscal Policy (FP);
• National Economy (General) - NE(G) - co-ordination, advice and briefings;
• Industrial and Incomes Policy (IP) taking over responsibilities of the the DEA for Industrial policy and assessment.

The Treasury had been responsible for the initial establishment of the National Economic Development Council in 1961, but relinquished this responsibility to the DEA in 1964. On the disbandment of the DEA the Treasury again became responsible for maintaining government relations with the NEDC and the Chancellor of the Exchequer became its chair.