National Economic Development Council (N.E.D.C. or ‘Neddie’)

By:

James Knight

James is a lead editor for Invezz, where he covers topics from across the financial world, from the stock… read more.

Updated: Aug 20, 2021

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This was set up by the U.K. government in 1962 with the overall aims of encouraging economic growth and keeping a watch on industrial development generally. It consists of representatives of government, employers and trade unions, and is chaired by a leading government minister. In order to achieve greater coverage of national industrial problems sub-committees were set up in 1964, with responsibilities for particular industries and with power to make representations to the Council. These sub-committees became known as ‘Little Neddies’. Their number varies according to the needs of the moment, and whilst new ones may be formed others may be disbanded when they are no longer relevant. The N.E.D.C. was in1981, incorporated as part of the British Technology Group.

Reference: The Penguin Business Dictionary, 3rd edt.