The Scottish economy [January 1980]

Bell, David N.F. and Emmett, Gary and Fraser, Neil and Jowett, Anne and Kirwan, Frank X. and McNicoll, Iain H. and Moar, Lyle and Orton, Ian and Simpson, David R. F. and Wingfield, A. A. (1980) The Scottish economy [January 1980]. Quarterly Economic Commentary, 5 (3). pp. 5-24. ISSN 0306-7866

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This Commentary has never gained a reputation for taking an optimistic view of the prospects for the Scottish economy. Unfortunately, its gloomier prognostications, on the whole, have turned out to be accurate. Examination of the evidence in this paper suggests that there is no reason to expect any reversal of Scotland's economic fortunes over the next six months. Unemployment will rise, output will stagnate and living standards are likely to fall. The short-term effects of current government policy are also likely to deepen the recession.