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Council of Economic Advisers
18/09/2009
After the seventh meeting of the Council of Economic Advisers in Musselburgh today, Chairman Sir George Mathewson said:
"The Council discussed measures to maximise employment, support businesses and jobs and ensure a strong economic recovery for Scotland - all of which are an important part of the Governments Economic Recovery Plan which is being updated in the autumn.
"The Council continued ongoing discussions about the need for the Scottish Parliament to have the ability to borrow, together with the concept of having an advisory fiscal policy commission.
"Infrastructure spending is an important factor in the recovery. We discussed the value of further capital acceleration this year and also looked at the additional flexibility that would be available to the Scottish government if it was able to borrow.
"At the last meeting the Council considered food and drink as a key sector of the Scottish economy. The Council suggests further analysis to establish the contribution of the Scottish whisky industry to the economy as a whole.
"The Government has taken action over the past year to support economic recovery and the Council has been working closely to develop and shape this work, which aims to increase sustainable economic growth. We want to make sure Government interventions are designed to meet the needs of the economy as it moves out of recession."