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Davignon Plan (L5)<br />The plan of the European Coal and Steel Community in 1980 to restructure the European steel industry; named after the EUROPEAN COMMUNITY'S Industry Commissioner, Viscount Etienne Davignon. State aid was offered (mainly for environmental improvements or research and development) provided that there was a cut in steel-making capacity. Minimum prices were set together with production quotas to cover 85 per cent of the European Community's output. The plan succeeded in scrapping production quotas by the end of 1987 and using MARKET FORCES to complete the adjustment process.
Star Chamber (H1)<br />Popular name for the UK governmental committee chaired by the Deputy Prime Minister. It considers the public expenditure proposals of the spending ministers with a view to reducing their aggregate to the planning total. The name derives from an English court of justice, abolished in 1640, noted for its arbitrary procedure.
Martineau, H. (1859) Illustrations of Political Economy, 9 vols, London: Routledge, Warner & Routledge.
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