Political and Economic Planning (PEP) was a policy 'think tank' which was set up in the Spring of 1931 as a consequence of Nicholson's 'National Plan for Britain' published in the Weekend Review, Feb 1931. He served initially as its Secretary, and later (1953-1958) on the Council of Management. His work for the PEP, which included reports devoted to war preparations, paved the way for his later wartime work in the Ministry of Information.