Economy facing 'financial crisis'

Dec 5 2008

The economy is facing its "most severe financial crisis in recent years", the Scottish Government's key team of economic experts warned as it published its first annual report.

The council of economic advisers makes a series of recommendations aimed at boosting the planning, education and infrastructure sectors as well as addressing economic activity in Scotland in their report.

Chairman Sir George Mathewson said that although the council has advised on measures to tackle the current downturn, it is more concerned about long term strategic growth.