Editing Incomes policy (section)

===United Kingdom===
{{main|National Board for Prices and Incomes}}
The National Board for Prices and Incomes was created by the [[Labour government, 1964–1970|Labour government]] led by [[Harold Wilson]] in 1965 in an attempt to solve the problem of inflation in the British economy by managing wages and prices. The [[Callaghan government]] in the 1970s sought to reduce conflict over wages and prices through a [[Social Contract (Britain)|social contract]] in which unions would accept smaller wage increases, and business would constrain price increases, imitating Nixon's policy in America.<ref name="'70s 313">{{cite book|title= How We Got Here: The '70s|last= Frum|first= David|author-link= David Frum|year= 2000|publisher= Basic Books|location= New York, New York|isbn= 0-465-04195-7|page= [https://archive.org/details/howwegothere70sd00frum/page/313 313]|url= https://archive.org/details/howwegothere70sd00frum/page/313}}</ref> Price controls ended with the election of [[Margaret Thatcher]] in 1979.