The British economy [February 1984]

Frank Kirwan, Dipak Basu, Bob Buchanan, Robert Crawford, Paul Draper, Frank Harrigan, John Heeley, Iain Jenkins, James Love, Iain McNicoll, Michael McVey, Arthur Midwinter, Lyle Moar, Noreen O'Donnell, David Simpson, Jim Stevens, Jim Walker, Frank Kirwan (Editor)

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Abstract

It seems unlikely that the pace of growth in the British economy will either accelerate or decelerate significantly during the current year. It also seems unlikely that the Budget will embody any substantive and unexpected changes in government strategy. As this analysis will show, monetary policy is broadly on target, while public expenditure appears to be coming back into line after some months of unplanned growth. The Public Sector Borrowing Requirement (PSBR) for 1983/4, though considerably in excess of the target initially announced in the 1983 Budget, seems unlikely to be quite as high as that envisaged in the November Statement. The PSBR target for 1984 implied in the Medium Term Financial Strategy seems attainable without the imposition of additional taxation.
Original languageEnglish
Pages (from-to)6-14
Number of pages9
JournalQuarterly Economic Commentary
Volume9
Issue number3
Publication statusPublished - Feb 1984

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Keywords

  • UK economic trends
  • British economic performance
  • industrial output
  • labour market trends
  • public sector borrowing

Cite this

Kirwan, F., Basu, D., Buchanan, B., Crawford, R., Draper, P., Harrigan, F., ... Kirwan, F. (Ed.) (1984). The British economy [February 1984]. Quarterly Economic Commentary, 9(3), 6-14.