New Deal

1 The US policies used by President Franklin D.Roosevelt to revive the depressed US economy of 1933–7. Loosely called ‘KEYNESIAN’, these policies included the creation of budget deficits.

Financial stability was sought through DEPOSIT INSURANCE, the setting up of the SECURITIES AND EXCHANGE COMMISSION and the extension of the powers to regulate banks. COLLECTIVE BARGAINING was extended through the Wagner Act and through the codes of the National Recovery Administration. There was a new partnership between business and government that, in a sense, created a MIXED ECONOMY.

2 The training programme introduced in the UK in 1997 and financed initially out of a windfall tax on the profits of public utilities.