Hello PaulB.

I remember wearing a liberty bodice too when I was very young (early sixties). It was warm and worn as well as a vest in the winter, I remember it being a light brown or dark cream. I found a couple of websites which said that it was fleecy and designed to keep one warm. I think it was made predominantly for girls. I've seen a couple that were more like corsets but I don't remember it having any "bones".
http://removed
http://www.harboro.ndirect.co.uk/harboro.htm

Foornote: I've just looked at the first website that I had listed again, following Jackie's post (next one down). I had searched on "liberty bodice" - and only looked at the information given about where they were made. I've decided that it is a distinctly dodgy site, so I've amended my post and removed the reference.