Chapter

The Managed Economy: Scotland, 1919–2000<sup>1</sup>

G. C. Peden

in The Transformation of Scotland

Published by Edinburgh University Press

Published in print February 2005 | ISBN: 9780748614325
Published online March 2012 | e-ISBN: 9780748653348 | DOI: http://dx.doi.org/10.3366/edinburgh/9780748614325.003.0009
The Managed Economy: Scotland, 1919–20001

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This chapter looks at state intervention from a different perspective: how did management of the UK economy, including macroeconomic policy as well as regional policy, affect Scotland? Macroeconomic policy was conducted from London by the Treasury and the Bank of England. UK microeconomic policy, including regional policy, was dealt with by the Board of Trade and its successor, the Department of Trade and Industry, but Scottish interests were represented in the Cabinet by the Secretary of State for Scotland, and Scotland acquired its own agencies such as the Highlands and Islands Development Board and the Scottish Development Agency. The development of the Scottish Office's capacity for economic planning from the 1960s led to Scotland being seen as an economic unit, notwithstanding the considerable regional differences identified by Newlands. Scottish economic planners played a major part in the transformation of the Scottish economy in the second half of the twentieth century.

Keywords: Scottish economy; economic planning; UK economy; macroeconomic policy

Chapter.  13079 words.  Illustrated.

Subjects: Regional and Area Studies

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