Outlook and appraisal [March 1990]

Jim Love; Brian Ashcroft; Richard Brooks; Neil Dourmashkin; Paul Draper; Stewart Dunlop; Cliff Lockyer; Lesley Magee; Eleanor Malloy; Eric McRory; Claire Monaghan; Peter McGregor; Roger Perman; Jim Stevens; Kim Swales; Jim Love

Outlook and appraisal [March 1990]

Jim Love, Brian Ashcroft, Richard Brooks, Neil Dourmashkin, Paul Draper, Stewart Dunlop, Cliff Lockyer, Lesley Magee, Eleanor Malloy, Eric McRory, Claire Monaghan, Peter McGregor, Roger Perman, Jim Stevens, Kim Swales, Jim Love (Editor)

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Abstract

The measures included in this year's budget have not led to the significant tightening of the fiscal stance which was widely expected. The overall tax burden was marginally increased, mainly through increases in excise duties, with virtually no change occurring in direct taxation. Presumably the Chancellor feels that the continuing policy of high interest rates is sufficient on its own to curb domestic demand, and did not want to increase the risk of recession by tightening fiscal policy just as the economy begins to slow down. The evidence on domestic demand remains mixed, although Mr Major can take some encouragement from the February statement of the Committee of London and Scottish Bankers.

Original language	English
Pages (from-to)	1-2
Number of pages	2
Journal	Quarterly Economic Commentary
Volume	15
Issue number	3
Publication status	Published - Mar 1990

Keywords

economic forecasts
Scottish economic trends
Scotland
labour market conditions
industrial output

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FEC_15_3_1990_OutlookFinal published version, 213 KB

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title = "Outlook and appraisal [March 1990]",

abstract = "The measures included in this year's budget have not led to the significant tightening of the fiscal stance which was widely expected. The overall tax burden was marginally increased, mainly through increases in excise duties, with virtually no change occurring in direct taxation. Presumably the Chancellor feels that the continuing policy of high interest rates is sufficient on its own to curb domestic demand, and did not want to increase the risk of recession by tightening fiscal policy just as the economy begins to slow down. The evidence on domestic demand remains mixed, although Mr Major can take some encouragement from the February statement of the Committee of London and Scottish Bankers.",

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author = "Jim Love and Brian Ashcroft and Richard Brooks and Neil Dourmashkin and Paul Draper and Stewart Dunlop and Cliff Lockyer and Lesley Magee and Eleanor Malloy and Eric McRory and Claire Monaghan and Peter McGregor and Roger Perman and Jim Stevens and Kim Swales and Jim Love",

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AU - Love, Jim

AU - Ashcroft, Brian

AU - Brooks, Richard

AU - Dourmashkin, Neil

AU - Draper, Paul

AU - Dunlop, Stewart

AU - Lockyer, Cliff

AU - Magee, Lesley

AU - Malloy, Eleanor

AU - McRory, Eric

AU - Monaghan, Claire

AU - McGregor, Peter

AU - Perman, Roger

AU - Stevens, Jim

AU - Swales, Kim

A2 - Love, Jim

PY - 1990/3

Y1 - 1990/3

N2 - The measures included in this year's budget have not led to the significant tightening of the fiscal stance which was widely expected. The overall tax burden was marginally increased, mainly through increases in excise duties, with virtually no change occurring in direct taxation. Presumably the Chancellor feels that the continuing policy of high interest rates is sufficient on its own to curb domestic demand, and did not want to increase the risk of recession by tightening fiscal policy just as the economy begins to slow down. The evidence on domestic demand remains mixed, although Mr Major can take some encouragement from the February statement of the Committee of London and Scottish Bankers.

AB - The measures included in this year's budget have not led to the significant tightening of the fiscal stance which was widely expected. The overall tax burden was marginally increased, mainly through increases in excise duties, with virtually no change occurring in direct taxation. Presumably the Chancellor feels that the continuing policy of high interest rates is sufficient on its own to curb domestic demand, and did not want to increase the risk of recession by tightening fiscal policy just as the economy begins to slow down. The evidence on domestic demand remains mixed, although Mr Major can take some encouragement from the February statement of the Committee of London and Scottish Bankers.

KW - economic forecasts

KW - Scottish economic trends

KW - Scotland

KW - labour market conditions

KW - industrial output

UR - http://www.strath.ac.uk/frasercommentary/

UR - http://www.strath.ac.uk/fraser/

M3 - Article

SN - 0306-7866

VL - 15

SP - 1

EP - 2

JO - Quarterly Economic Commentary

JF - Quarterly Economic Commentary

IS - 3

ER -

Outlook and appraisal [March 1990]

Abstract

Keywords

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