The Scottish economy [April 1979]

Bell, D N F and Hart, S and Kirwan, F X and McNicoll, I H and Moar, L. and Simpson, D R F and Wingfield, A A (1979) The Scottish economy [April 1979]. Quarterly Economic Commentary, 4 (4). pp. 5-22. ISSN 0306-7866

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    Abstract

    As the latest economic data reveal, there is little doubt that the Scottish economy is weaker now than it was in 1974, How much this is due to the inadequacies of policy is difficult to ascertain. However, as this paper demonstrates, one can point to some factors, such as the removal of regional employment premium, which undoubtedly have had a detrimental effect on the economy, at least in the short-term. Further, it now seems likely, whichever party wins the next election, that regional policy, given the prevailing economic orthodoxy, will enter a 'passive' phase where assistance to the development areas will be tied to specific industries or projects. Whether the Scottish economy is now sufficiently robust to accommodate such a change remains to be seen.