The Economic Context

Paul Cockle
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Paul Cockle: Data Resources Inc.

Chapter 3 in Public Expenditure Policy, 1984–85, 1984, pp 40-62 from Palgrave Macmillan

Abstract: Abstract When the Chancellor delivered his March budget speech, there was no immediate macro-economic crisis to claim his attention or cause him to shift radically the government’s policies. Inflation in 1983 was at its lowest since the mid 1960s, the economy had grown three per cent, the current account of the balance of payments had registered a £2 billion surplus and adult unemployment statistics showed a fall. Not surprisingly most of his effort went into reforming the tax system, though at the time there were fears that the economy would slow markedly in 1984 and that unemployment would resume an upward path. This view was not shared by the Treasury.

Keywords: Interest Rate; Current Account; Money Supply; Economic Context; Unit Labour Cost (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17623-6_3

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DOI: 10.1007/978-1-349-17623-6_3

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