Outlook and appraisal [September 1997]

Ashcroft, Brian (1997) Outlook and appraisal [September 1997]. Quarterly Economic Commentary, 22 (4). i-vi. ISSN 0306-7866

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The decision of the Scottish people on 11 September to support the creation of a Scottish legislative Parliament with tax-varying powers is of historic significance. This expression of the people's will has ensured the eventual removal of the two-hundred year anomaly where Scotland is the only democratic country with its own legal system but no legislature of its own. Scotland will remain part of the United Kingdom with Westminster retaining responsibility for foreign affairs, defence and macro-economic stability, but the Scottish Parliament will be responsible for almost all other aspects of the business of government. The activities of the Scottish Parliament will therefore reach into almost every corner of Scottish life, not the least of which will be the economy.