Money matters on election agenda

The SNP wants oil revenues to go to Holyrood, not London

The economy is taking centre stage on the general election campaign trail in Scotland on Thursday.

The four main parties have been facing questions from business leaders on plans for growth and creating jobs.

Events began with a business breakfast in Carnoustie running through to a hustings organised by the Federation of Small Business in Edinburgh.

Candidates are fighting it out for a reduced 59 seats after the redrawing of constituency boundaries in Scotland.

Who does what - Westminster or Holyrood?

Scotland Office Minister Anne McGuire told those at the business breakfast event that Scotland's successful image and influence had been disproportionate to the size of its population.

She said the Scottish Executive and UK Government must continue to invest in Scotland's future.

'Investing in future'

Mrs McGuire said: "When I see now that there are somewhere around 34,000 apprenticeships in Scotland compared to only a couple of thousand in 1997 I see investment in Scotland's future.

"And when I read that there are now more than 50% of young people in higher education compared with a fraction of that only a few years ago then I see that we are investing in Scotland's future."

Mrs McGuire said that Scotland had "great strengths" on which to build in terms of indigenous products like whisky and in businesses such as financial services, science, electronics and the oil and gas industry.

The SNP want more fiscal powers to be devolved from London

Scottish National Party leader Alex Salmond said the economy was not growing at the rate that it should.

He said: "Scotland has the highest unemployment rate of any UK country and the lowest growth rate of any small country in Europe."

He called for a cut in corporation tax and for proper investment in infrastructure.

Mr Salmond said Scotland must have control of its oil and gas revenues and pointed to the benefits he could see being enjoyed by Norway.

"We have 50 years left of North Sea oil and gas. We must have the same approach in Scotland so that that windfall can be invested in future generations," said Mr Salmond.

There must be action to address population decline and a strategy has to be in place to hold on to Scotland's talented people Peter Duncan Conservative

The Tories are pledging to sustain Scottish spending, while cutting the council tax to assist the economy.

Shadow Secretary of State for Scotland Peter Duncan claims his party would cut council tax for everyone across Scotland.

He added that Scottish parties must address the issue of creating "a successful nation and Scottish economy of the future".

Mr Duncan said: "There must be action to address population decline and a strategy has to be in place to hold on to Scotland's talented people.

"The reality is that hundreds of millions of people around the world already have access to Scotland, they just choose not to come here either to settle or set up their businesses."

Key role

Mr Duncan believes that Scotland must improve its public services through choice and competition and address slow growth in the economy.

The Liberal Democrats are also focusing on tax, arguing for the replacement of the council tax by a local income tax.

The party's Sir Robert Smith said promoting Scotland is not just about trade but about excellence in other areas like education and the "crucial welcome" given to overseas students.

He added: "Because the students that we teach here now become the decision makers of tomorrow.

"If we let other countries take that market then we are letting them take that edge."

Sir Robert said the commercial world had a key role in promoting Scottish trade in other countries.

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