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But despite the undoubted success so far, there is still a barrier along Scotland's road to prosperity. That barrier is the pervasive presence of a h… - Nigel Lawson
" "But despite the undoubted success so far, there is still a barrier along Scotland's road to prosperity. That barrier is the pervasive presence of a hostile attitude to wealth creation, to the enterprise culture on which economic success in a free society depends. That is not to say there is no enterprise in Scotland: of course there is. Rather that it is frequently swamped by an overriding sense of dependence on the state. Large areas of Scottish life are sheltered from market forces, and exhibit the culture of dependence rather than that of enterprise.
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About Nigel Lawson
Nigel Lawson, Baron Lawson of Blaby PC (11 March 1932 – 3 April 2023) was a British politician. Originally a financial journalist, he was editor of The Spectator from 1966 to 1970. He was Chancellor of the Exchequer between June 1983 and October 1989 during the government of Margaret Thatcher and oversaw a sizable reduction in taxes as well as the privatization of many state-owned companies. He fell out with Mrs Thatcher over the issue of European monetary co-operation and resigned suddenly over her having supplanted him with one of her own advisers.
Also Known As
Alternative Names:
Nigel Lawson, Baron Lawson of Blaby
•
Lord Lawson
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Additional quotes by Nigel Lawson
The fears of recession in the aftermath of Black Monday have turned to fears of the economy racing ahead too fast, with inflation edging up and a substantial current account deficit...people understandably feel more confident about their future than they've done for decades, but as a result they have been borrowing more and saving less...coming on top of a massive income investment boom, it's all been just a bit too much of a good thing.
We had to dispel the notion that the way to economic success lies through a sort of fiscal levitation. That was the abiding post-war delusion—that governments could spend and borrow their way to prosperity, and fine-tune the performance of the economy through something known pretentiously as demand management... It used to be an establishment nostrum that you need a budget deficit to get economic growth. That was the belief which lay behind the notorious letter by 364 economists in March 1981. We have given the lie to that, decisively. There can no longer be any argument about it. Everyone—or almost everyone—now accepts that the proper role of macro-economic policy is to keep downward pressure on inflation and to maintain a stable framework in which the private sector can expand.
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