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The Recasting of Industrial Support (1983–Present)

In: Industrial Subsidies

Author

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  • Colin Wren

    (University of Newcastle upon Tyne)

Abstract

By the middle of 1983 the economy was starting to grow strongly, inflation was low and falling, and the expansion of the service sector continued to mitigate the job losses in manufacturing. But unemployment was high — and was to remain at around three million for the next four years — and this rise in joblessness had influenced the pattern of industrial assistance in two main ways. First, the effect of recession on government finances and the failure to bring public expenditure under control had meant that new resources were focused on ameliorative labour market measures, so that where new measures were introduced these were generally on a small scale.1 Second, the severity of the recession meant that the Conservative government was unable to abolish the large-scale blanket subsidies going to the manufacturing sector in the form of the automatic regional capital grants and the accelerated depreciation allowances. With the resumption of strong economic growth and a fresh mandate, attention now turned to the elimination of these subsidies.

Suggested Citation

  • Colin Wren, 1996. "The Recasting of Industrial Support (1983–Present)," Palgrave Macmillan Books, in: Industrial Subsidies, chapter 8, pages 154-202, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37257-3_8
    DOI: 10.1057/9780230372573_8
    as

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