Outlook and appraisal [May 1986]

Love, James and Boyle, Stephen and Draper, Paul and Harrigan, Frank and Heeley, John and Jenkins, Iain and Lockyer, Cliff and Love, Jim H and McGregor, Peter and McNicolI, Iain and Simpson, David and Walker, Jim (1986) Outlook and appraisal [May 1986]. Quarterly Economic Commentary, 11 (4). pp. 1-2. ISSN 2046-5378

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    Abstract

    During the first part of 1986 developments in the Scottish economy took place against a background of: further reductions in oil prices; some slight reductions in the high levels of UK real and nominal interest rates; and continuing weakness in non-oil commodity markets. In addition, the Chancellor in the March Budget remained committed to the general direction that UK economic policy has followed over the past few years. The March Budget also provided a further stimulus to consumer spending through the reduction of the standard rate of income tax.