According to Strathclyde University's Fraser of Allander Institute, Scotland's recovery from the recession will be much slower than the rest of the UK, as the economy is hit by particularly hard by serious cuts to public spending.
The think tanks blames the deeper recession in Scotland mainly on a bigger drop in the output of its financial sector. It is also though that the Scottish economy may confound earlier predictions by not achieving growth in the fourth quarter.
Finance Secretary John Swinney said the report showed there were grounds for "cautious optimism" though any economic recovery was "fragile at this stage", while labour's Iain Gray warned it painted a "worrying picture" and blamed the weak recovery on the SNP government.
Professor Ashcroft of the FOAI said: "This hasn't happened before, certainly since the Second World War, in terms of the output loss being greater in Scotland than the rest of the UK
"That is because of the nature of the recession - the financial services crisis. There has been significant cutback in financial services activity."
The FOAI now forecasts a much greater rise in unemployment this year than it did in its previous forecasts in June.
Tory finance spokesman Derek Brownlee said he hoped the prediction that Scotland was emerging from recession was true, while LibDem leader Tavish Scott said the report showed that labour's handling of the "banking Shambles" was a key reason for Scotland being hit so hard by the recession.
Doesn't surprise me Scottish labour blame the recession on the SNP. After all they can't say it is Gordon Brown to blame can they? Wouldn't want to upset the saviour of the world.
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Labour are in opposition in Scotland and so blame the snp Government it worked in Glasgow NE.........That's the price of being the Scottish Government
SNP would like to have it both ways but unfortunately lifes not like that.
Niko, all political parties would like life both ways. Some politicians even think they're indispensible.
Subrosa..
Great minds eh? I have posted on this but in a slightly diffrent way but at least we both came to the same conclusion.
Niko.
The Tories are in opposition in England, they blamed Labour in Crew and Nant, the London Mayor elections and in the Euro elections and in the council elections and it worked.
Now the polls and Labour say the Tories will win the next election.
Oh what wss it you said?
"That's the price of being the Scottish Government"
Hmm, naws its the price for being a failed UK Labour gov.
I'll go and read yours now Spook. Was trying out the new blogger editor with this post early this morning, liked it but couldn't do URL links, so back to the old style.
subrosa,
You do know who is married to Professor Ashcroft, of course?
I do indeed Brownlie, but I didn't want you to choke on your morning coffee seeing her name in print.
(I'm purposely not writing it just in case you're having lunch). :)
Give us a clue?
Not Bendy Wendy?
Bugger!
Well, as far as rumour has it Bugs, he's the father of her children.
Yes all that was lacking on the Hearld's headline was - SNP to blame" but there he was, weary willie Gray - It's all your fault. Then you tell me who the Good Prof's Mrs is..........argh you couldn't make it up. Bias or what???!!!
SR,
I want to swear, spineless Labour git, hope I meet Grey when I'm up at the Barras for Runrig, he'll get both barrels from me, uphill gardener.
Cald here!
CD
Dram, I'm kind of losing faith in the fact the SNP just won't stand up to labour. What's the point in them being 'good government' yet allowing others to deride them in this manner.
The SNP have had years to practice how to handle a biased media. I would have thought they'd have learned by now - especially when they can command more headlines being the government.
Auch CD you'll enjoy the concert. Scone was wonderful and I doubt if the Barras will be any different.
Forget about the politics for a while (unless of course Willie whatsit appears) and enjoy it.
'Doesn't surprise me Scottish labour blame the recession on the SNP. After all they can't say it is Gordon Brown to blame can they? Wouldn't want to upset the saviour of the world.' Lol, this is the dilemma of Labour in Scotland. They can hardly blame their own colleagues for getting it wrong...
The Herald article says: 'However, Scottish Labour leader Iain Gray warned it painted a “worrying picture” for Scotland and blamed the weak recovery on the SNP Government.' I'm pretty confident - given the politics of opposition - he did say that but I would still like to see the original quote...
Are you saying labour blame the recession on the Americans and the lack of recovery on the SNP politicscot? That's accurate I would think.
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