Froggatt's optimism reflects the mood at Coventry in a week when Mike McGinnity was unanimously re-elected as chairman.

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Rural Affairs Secretary Richard Lochhead said the report showed why there was a "mood of optimism and opportunity" among Scottish food and drink producers.

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That influx of capital pushed up wages and, together with rising stockmarkets and lower income-tax rates, created a mood of optimism among City professionals.

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