Nicola Sturgeon is set to lay out her economic and currency plans in an independent Scotland later today with opposition parties accusing her of "fantasy economics and wishful thinking".
The First Minister will deliver the Scottish Government 's latest paper in the Building a New Scotland series which aims to give voters how the country would look like if it voted to leave the United Kingdom.
Scottish Labour 's finance spokesperson Daniel Johnson hit out at the SNP leader saying breaking away would have "catastrophic" circumstances.
He said: "The SNP need to drop the spin and come clean with people about the catastrophic reality of their economic plans."
The paper will address a number of issues that are likely to arise in an independent Scotland from European Union membership, migration, currency and as well as border arrangements.
Sturgeon, who wants to hold another referendum on October 19 next year, will hope her announcement from Bute House will help to persuade Scots who are still undecided.
She said: "Scotland has an abundance of skilled people, innovative businesses, and natural resources. We have everything it takes to be just as successful as comparable independent European countries. Our analysis from the first paper in the Building a New Scotland series shows that a dynamic economy and social justice go hand in hand. Each makes the other stronger. Increasingly
“Scotland’s economy is one of the best performing in the UK – however the UK economy, particularly post-Brexit, is now lagging many EU and international comparators.
"The UK economic model is demonstrably failing and increasingly holding Scotland back. Independence is now essential to build an economy that works for everyone. The paper we are publishing today will help people make a clear, informed choice about independence and how we can forge a path towards becoming a fairer, greener, wealthier country."
Johnson took aim at the SNP leader saying it was time for Labour to "build an economy that works for everyone".
He added: "Despite wasting 15 years in government peddling the same old agenda, they still can’t answer even the most basic questions.
"They are gambling people’s livelihoods based on fantasy economics and wishful thinking. The last few weeks have exposed the high price we pay when reckless, ideologically-driven governments make impossible promises and unfunded plans.
"We need a change from this failing Tory government – but more chaos and economic turmoil isn’t the answer. We need a Labour government to build an economy that works for everyone and put an end to years of division and decline under the SNP and the Tories."
Scottish Liberal Democrats economy spokesperson Willie Rennie branded the statement a "indulgent distraction" and urged the government to focus on problems facing the country.
He said: "It astonishes me that even as we face a skills shortage and an economic slowdown, the SNP are still determined to pursue a myopic agenda that would see us cut off trade with our closest partner, build borders and sever opportunities for growth.
"The SNP are looking at the Conservative party's economic chaos and saying "we want some more of that. What's even worse is that they are now touting a currency plan which would require vast cuts to Scottish public services like the NHS.
"This paper is not a solution to any of Scotland's problems. It's an indulgent distraction. The Scottish Government seem to have an utterly shambolic idea of what’s best for our economy. They have spent their time in government bungling industrial interventions and striking dodgy deals, while our skills and educational sectors have slipped down the international rankings."
The Daily Record has contacted the Scottish Government for comment.
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