HC Deb 23 February 1999 vol 326 cc213-4W
19. Mr. Prior

To ask the Secretary of State for Scotland if he will make a statement about the most recent business survey by the Scottish Chamber of Commerce. [70838]

Mr. Macdonald

I have noted the results of the most recent Scottish Chamber's Business Survey, which were released on 13 January 1999.

No country is immune from the effects of the current instability in the world economy. We fully appreciate the difficulties that this is causing for Scottish businesses and we are taking action to build a stable economy capable of sustained and steady growth. The recent reductions in interest rates are possible because of the tough decisions we have taken. The publication of the Competitiveness White Paper is further evidence of the Government's determination to create a strong and vibrant economy.

From 1 July economic development in Scotland will be a matter for the Scottish Parliament.