The members of Sub-Committee II were:
V. Caldecote
L. Cuckney
L. Currie of Marylebone
L. Dainton
L. Dixon-Smith
L. Flowers
B. Hogg (Chairman)
L. Hollick (until 22 January 1997)
L. Kirkwood
L. Redesdale
L. Tombs
L. Winston
The Sub-Committee appointed as its Specialist Adviser Professor the Hon. Peter Swann of the Business Economic Group, Manchester Business School.