Following advice to MSPs in the Scottish Parliament’s Economy Committee that they should avoid economic forecasting, Liberal Democrat Finance spokesperson Liam McArthur MSP urged the SNP not to be complacent about the credit crunch gripping the UK.

Commenting, Mr McArthur said:

“Wasting time trying to predict the future is entirely separate to making sound financial plans for an uncertain economic period ahead.

“In Scotland so far, we have been fortunate in that our labour market has remained strong. But Scottish Government action has put this at risk.

“Ministers have failed to fund modern apprenticeships, abandoned EMAs (Education Maintenance Allowances) and Enterprise in Education and proposed a poor funding settlement for colleges. The SNP’s woolly skills strategy was rejected by the Scottish Parliament and Ministers have yet to come forward with revised proposals.

“Ministers cannot afford to be complacent about the credit crunch and its potential to undermine recent growth in the Scottish economy. Sadly, they are showing worrying signs of doing just that."