diff --git a/model/godleyIcon.cc b/model/godleyIcon.cc
index b86a5ea6f..b4c87d2d0 100644
--- a/model/godleyIcon.cc
+++ b/model/godleyIcon.cc
@@ -73,11 +73,10 @@ namespace minsky
     {
       float h=0;
       for (auto& v: vars)
-        {
-          RenderVariable rv(*v);
-          h+=2*rv.height();
+        { 
+          h+=v->height();
           if (h>height) height=h;
-          float w=2*rv.width();
+          float w=v->width();
           if (w>width) width=w;
         }
     }
@@ -161,27 +160,26 @@ namespace minsky
         else
           editor->enableButtons();
       }
-  }
+  }  
 
   double GodleyIcon::schema1ZoomFactor() const
   {
     if (auto g=group.lock())
-      return iconScale()*g->zoomFactor();
+      return scaleFactor()*g->zoomFactor();
     else
-      return iconScale();
+      return scaleFactor();
   }
 
   void GodleyIcon::resize(const LassoBox& b)
   {
-	float z=zoomFactor(), iw=this->iWidth(svgRenderer.width()), ih=this->iHeight(svgRenderer.height()), is=iconScale();  
-	float minusLeftMargin=iw*z*is, minusBottomMargin=ih*z*is;
+    float invZ=1.0/this->zoomFactor();
     auto bw=abs(b.x0-b.x1), bh=abs(b.y0-b.y1);
     if (bw<=leftMargin() || bh<=bottomMargin()) return;
-    this->iWidth(iw*(bw-leftMargin())/(minusLeftMargin));
-    this->iHeight(ih*(bh-bottomMargin())/(minusBottomMargin));
-    scaleIconForHeight(bh);
-    update();
     moveTo(0.5*(b.x0+b.x1), 0.5*(b.y0+b.y1));
+    this->iWidth(0.5*(bw-leftMargin())*invZ);
+    this->iHeight(0.5*(bh-bottomMargin())*invZ);
+    scaleIcon(bw,bh);
+    update();
     updateBB(); 
   }
 
@@ -267,25 +265,26 @@ namespace minsky
       if (table.initialConditionRow(r))
         for (size_t c=1; c<table.cols(); ++c)
           {
-            string name=trimWS(table.cell(0,c));
+            string name=trimWS(table.cell(0,c));           
             auto vi=minsky().variableValues.find(VariableValue::valueId(group.lock(),name));
             if (vi==minsky().variableValues.end()) continue;
-            VariableValue& v=*vi->second;
+            VariableValue& v=*vi->second;           
             v.godleyOverridden=false;
             string::size_type start=table.cell(r,c).find_first_not_of(" ");
             if (start!=string::npos)
               {
-                FlowCoef fc(table.cell(r,c).substr(start));
-                v.init=fc.str();
+                FlowCoef fc(table.cell(r,c).substr(start));                      
+                v.init=fc.str();              
                 v.godleyOverridden=true;
               }
             else
-              {
+              { 
                 // populate cell with current variable's initial value
-                FlowCoef fc(v.init);
+                FlowCoef fc(v.init);   
                 table.cell(r,c)=fc.str();
                 v.godleyOverridden=true;
               }
+
           }
 
 
@@ -297,7 +296,7 @@ namespace minsky
         flowMargin=0;
         accumulateWidthHeight(m_stockVars, stockH, stockMargin);
         accumulateWidthHeight(m_flowVars, flowH, flowMargin);
-        float iw=this->iWidth(), ih=this->iHeight();
+        float iw=this->iWidth()*this->zoomFactor(), ih=this->iHeight()*this->zoomFactor();
         this->iWidth(max(iw, 1.8f*stockH));
         this->iHeight(max(ih, 1.8f*flowH));
       }
@@ -309,7 +308,7 @@ namespace minsky
   void GodleyIcon::positionVariables() const
   {
     // position of margin in absolute canvas coordinate
-    float z=iconScale()*this->zoomFactor();
+    float z=scaleFactor()*this->zoomFactor();
     float vdf=variableDisplay? 1: -1; // variable display factor
     float x= this->x() - 0.5*iWidth()*z+0.5*leftMargin();
     float y= this->y() - 0.5*bottomMargin()-0.15*iHeight()*z;
@@ -346,7 +345,7 @@ namespace minsky
   void GodleyIcon::draw(cairo_t* cairo) const
   {
 	  
-    float z=zoomFactor()*iconScale();   
+    float z=zoomFactor()*scaleFactor();   
     positionVariables();
     double titley;
     
@@ -375,7 +374,7 @@ namespace minsky
         CairoSave cs(cairo);
         Pango pango(cairo);
         pango.setMarkup("<b>"+latexToPango(table.title)+"</b>");
-        pango.setFontSize(12*zoomFactor());
+        pango.setFontSize(12*this->zoomFactor());
         cairo_move_to(cairo,-0.5*(pango.width()-leftMargin()), titley);
         pango.show();
       }
@@ -452,8 +451,8 @@ namespace minsky
     auto z=zoomFactor();
     double w=iWidth()*z, h=iHeight()*z;
     // check if (x,y) is within portradius of the 4 corners
-    if ((abs(x-Item::left()) < portRadiusMult*z || abs(x-Item::right()) < portRadiusMult*z) &&
-      (abs(y-Item::top()) < portRadiusMult*z || abs(y-Item::bottom()) < portRadiusMult*z))    
+    if ((abs(x-left()) < portRadiusMult*z || abs(x-right()) < portRadiusMult*z) &&
+        (abs(y-top()) < portRadiusMult*z || abs(y-bottom()) < portRadiusMult*z))    
       return ClickType::onResize;
     // Make it possible to pull wires from variables attached to Godley icons. For ticket 940  
     if (auto item=select(x,y))
diff --git a/model/godleyIcon.h b/model/godleyIcon.h
index daa0115c2..f190d40c8 100644
--- a/model/godleyIcon.h
+++ b/model/godleyIcon.h
@@ -39,8 +39,6 @@ namespace minsky
   {
     /// for placement of bank icon within complex
     float flowMargin=0, stockMargin=0;
-    /// icon scale is adjusted when Godley icon is resized
-    float m_iconScale=1;
     CLASSDESC_ACCESS(GodleyIcon);
     friend struct SchemaHelper;
 
@@ -78,17 +76,14 @@ namespace minsky
     bool variableDisplay=true;
     void toggleVariableDisplay() {variableDisplay=!variableDisplay;}
     
-    /// scale icon until it's height matches \a h 
-    void scaleIconForHeight(float h) {update(); m_iconScale*=h/(bottomMargin()+iHeight()*iconScale()*zoomFactor());}        
+    /// scale icon until it's height or width matches \a h or \a w depending on which is minimum             
+    void scaleIcon(float w, float h) {update(); scaleFactor(scaleFactor()*min(w/(leftMargin()+iWidth()*scaleFactor()*zoomFactor()),h/(bottomMargin()+iHeight()*scaleFactor()*zoomFactor())));}        
     
     /// left margin of bank icon with Godley icon
-    float leftMargin() const {return variableDisplay? flowMargin*iconScale()*zoomFactor(): 0;}
+    float leftMargin() const {return variableDisplay? flowMargin*scaleFactor()*zoomFactor(): 0;}
     /// bottom margin of bank icon with Godley icon
-    float bottomMargin() const {return variableDisplay? stockMargin*iconScale()*zoomFactor(): 0;}
+    float bottomMargin() const {return variableDisplay? stockMargin*scaleFactor()*zoomFactor(): 0;}
 
-    /// icon scale is adjusted when Godley icon is resized
-    float iconScale() const {return m_iconScale;}
-    
     /// helper for schema1
     double schema1ZoomFactor() const; 
     
diff --git a/model/variable.cc b/model/variable.cc
index 81bb32b07..e3b4a97da 100644
--- a/model/variable.cc
+++ b/model/variable.cc
@@ -134,9 +134,9 @@ float VariableBase::zoomFactor() const
   if (ioVar())
     if (auto g=group.lock())
       return g->edgeScale();
-  // scale by GodleyIcon::iconScale if part of an Godley icon
+  // scale by GodleyIcon::scaleFactor if part of an Godley icon
   if (auto g=dynamic_cast<GodleyIcon*>(controller.lock().get()))
-    return g->iconScale() * Item::zoomFactor();
+    return g->scaleFactor() * Item::zoomFactor();
   return Item::zoomFactor();
 }
 
diff --git a/schema/schema3.cc b/schema/schema3.cc
index 40eafe998..9a83d21aa 100644
--- a/schema/schema3.cc
+++ b/schema/schema3.cc
@@ -431,11 +431,9 @@ namespace schema3
       {
         std::vector<std::vector<std::string>> data;
         std::vector<minsky::GodleyAssetClass::AssetClass> assetClasses;
-        float iconScale=1;
         if (y.data) data=*y.data;
         if (y.assetClasses) assetClasses=*y.assetClasses;
-        if (y.iconScale) iconScale=*y.iconScale;
-        SchemaHelper::setPrivates(*x1,data,assetClasses,iconScale);
+        SchemaHelper::setPrivates(*x1,data,assetClasses);
         try
           {
             x1->table.orderAssetClasses();
@@ -575,15 +573,7 @@ namespace schema3
                 SchemaHelper::setStockAndFlow(*godley, flowVars, stockVars);
                 try
                   {
-                    
                     godley->update();
-                    if (!godley->editorMode())
-                      {
-                        if (i.height)
-                          godley->scaleIconForHeight(*i.height*godley->zoomFactor());
-                        else if (i.iconScale) //legacy schema handling
-                          godley->scaleIconForHeight(*i.iconScale * godley->iHeight());
-                      }
                   }
                 catch (...) {} //ignore exceptions: ticket #1045
               }
diff --git a/schema/schema3.h b/schema/schema3.h
index cbd29be4c..de2aecee8 100644
--- a/schema/schema3.h
+++ b/schema/schema3.h
@@ -109,7 +109,6 @@ namespace schema3
     // Godley Icon specific fields
     Optional<std::vector<std::vector<std::string>>> data;
     Optional<std::vector<minsky::GodleyAssetClass::AssetClass>> assetClasses;
-    Optional<float> iconScale; // for handling legacy schemas
     Optional<bool> editorMode, buttonDisplay, variableDisplay;
     // Plot specific fields
     Optional<bool> logx, logy, ypercent;
@@ -142,8 +141,8 @@ namespace schema3
       axis(o.axis), arg(o.arg) {}
     Item(int id, const minsky::GodleyIcon& g, const std::vector<int>& ports):
       ItemBase(id,static_cast<const minsky::Item&>(g),ports),
-      width(g.iWidth()/g.zoomFactor()), height(g.iHeight()/g.zoomFactor()), name(g.table.title), data(g.table.getData()),
-      assetClasses(g.table._assetClass()), iconScale(g.iconScale()),
+      width(g.iWidth()), height(g.iHeight()), name(g.table.title), data(g.table.getData()),
+      assetClasses(g.table._assetClass()),
       editorMode(g.editorMode()),
       buttonDisplay(g.buttonDisplay()), variableDisplay(g.variableDisplay) {}
     Item(int id, const minsky::PlotWidget& p, const std::vector<int>& ports):
@@ -175,7 +174,7 @@ namespace schema3
       slider(it.slider), intVar(it.intVar), dataOpData(it.dataOpData), filename(it.filename),
       ravelState(it.ravelState), lockGroup(it.lockGroup), dimensions(it.dimensions),
       axis(it.axis), arg(it.arg), data(it.data), assetClasses(it.assetClasses),
-      iconScale(it.iconScale), logx(it.logx), logy(it.logy), ypercent(it.ypercent),
+      logx(it.logx), logy(it.logy), ypercent(it.ypercent),
       plotType(minsky::PlotWidget::PlotType(it.plotType? int(*it.plotType): 0)),
       xlabel(it.xlabel), ylabel(it.ylabel), y1label(it.y1label),
       nxTicks(it.nxTicks), nyTicks(it.nyTicks), xtickAngle(it.xtickAngle),
diff --git a/schema/schemaHelper.h b/schema/schemaHelper.h
index 4fa172839..79e340aae 100644
--- a/schema/schemaHelper.h
+++ b/schema/schemaHelper.h
@@ -73,12 +73,11 @@ namespace minsky
     }
     static void setPrivates
     (minsky::GodleyIcon& g, const vector<vector<string> >& data, 
-     const vector<GodleyTable::AssetClass>& assetClass,float iconScale)
+     const vector<GodleyTable::AssetClass>& assetClass)
     {
       setPrivates(g.table, data, assetClass);
-      g.m_iconScale=iconScale;
     }
-
+    
     static void setStockAndFlow(minsky::GodleyIcon& g,
                          const minsky::GodleyIcon::Variables& flowVars,
                          const minsky::GodleyIcon::Variables& stockVars)
diff --git a/test/testModel.cc b/test/testModel.cc
index 53dbbeb73..bad7478eb 100644
--- a/test/testModel.cc
+++ b/test/testModel.cc
@@ -1010,7 +1010,7 @@ SUITE(GodleyIcon)
       update();
       // TODO - shouldn't be needed, but there is some font problem causing bottomMargin to be calculated incorrectly
       
-      scaleIconForHeight(2.5*bottomMargin());
+      scaleIcon(2.5*bottomMargin(),2.5*leftMargin());
       update();
       CHECK_EQUAL(1,flowVars().size());
       CHECK_EQUAL(1,stockVars().size());