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.
|Number of pages||2|
|Journal||Quarterly Economic Commentary|
|Publication status||Published - 1 May 1986|
- Fraser of Allander
- Scottish economic outlook
- Scottish economic conditions