John Swinney last night said he was likely to defer the Con-Lib cuts until next year. Presumably his Liberal and Labour opponents in Holyrood cannot complain about this since it was the position they campaigned for in the UK election eg cuts this year will damage recovery.
It is important to remember that this does not constitute the injection of cash the SNP wanted in order to boost recovery. Unlike the US, Britain has no stimulus plan. Without economic powers of its own - not even borrowing powers - the Scottish parliament cannot have a stimulus plan either.
This move by Swinney is the minimum he is allowed to do and it is Westminster's gift. If the plan works, Scotland's economy will pick up, more people will be in work, businesses perhaps will make modest profits or expand. This is the best case scenario. But we will not directly reap the benefit of our increased tax take. We will get a double whammy cut in our block grant next year calculated on the performance of a UK economy that could be back on the critical list.
It's a brilliant illustration of how Scotland is served poorly by the current constitutional arrangements.
The sooner we have full economic powers in Scotland the better.