On 19 June Macmillan presented his ideas on incomes policy to three or four colleagues at Chequers. Macmillan urged a "guiding light" (a target for wage increases as had been agreed at the beginning of the year), a Standing Commission on Pay (but with power only to give advice, not to coerce wage settlements), abolition of Resale Price Maintenance (in the end this would be done by Edward Heath in 1964) and creation of a Consumers Council; Lloyd was sceptical but the other ministers seemed in favour.