THERE is no doubt the Scottish economy is in pretty grim shape right now and, not surprisingly, its predicament has become another bone of contention for those on opposing sides of the independence debate.

Scotland’s growth rate is, of course, a very pertinent issue in the constitutional deliberations.

In the wake of Scottish Government figures on Wednesday showing the economy north of the Border grew by only 0.1 per cent in the third quarter of last year, it was interesting to observe Scottish Liberal Democrat leader Willie Rennie pointing the finger at the SNP administration.

Mr Rennie made a fair enough point when he noted the Scottish growth figures would “send a worrying shiver down the spines” of businesses across Scotland. It is worth noting that the figures will also likely be making many households fret.

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The growth figures are undoubtedly a matter for concern. Gross domestic product (GDP) growth in Scotland in the three months to September was way adrift of even the pretty pitiful 0.4 per cent quarter-on-quarter expansion in the UK as a whole over the same period.

It is important to underline the fact that UK growth in the third quarter, which equates to an annualised pace of 1.6 per cent, was way below a long-term average expansion rate put by Bank of England Governor Mark Carney at about 2.75 per cent. So the weakness of growth in the UK as a whole is also well worth worrying about.

That said, there was understandably much focus on the weakness of Scottish growth relative to that elsewhere in the UK.

Scotland’s underperformance of the UK was highlighted by the Liberal Democrats, with Mr Rennie calling on the Holyrood administration to do more to support business growth.

He said: “The detailed data shows the need to broaden the economic performance of the economy and the Scottish Government must do more to help start-up businesses.”

Politics is politics and, to be fair to Mr Rennie, senior Scottish Government figures have not been shy about trying to take credit when the economic numbers north of the Border have been more appealing, by contending that they reflect the benefits of the SNP administration’s policies.

However, we must recognise that, in the same way that politicians can sometimes claim credit for results driven by the likes of global factors rather than their policy-making, the current economic troubles north of the Border are absolutely not home-made.

They appear in large part to be the result of the global oil and gas industry downturn, which has been triggered by low crude prices.

Scottish Chambers of Commerce, publishing its own survey of fourth-quarter activity yesterday, cited evidence that the oil and gas sector downturn was spreading increasingly to the broader economy north of the Border.

It is also crucial to recognise that the Westminster Government’s austerity drive is weighing heavily on economic growth right across the UK. Savage welfare cuts are bearing down on consumer demand in Scotland and the rest of the UK, reducing the incomes of those who have to spend everything they have to live.

With Chancellor George Osborne determined to implement a further £12 billion of cuts in the UK’s annual welfare spending, this situation is only going to become even more grim.

There will likely be another significant economic hit from the uncertainty surrounding the UK’s continuing membership of the European Union as the Conservatives’ referendum looms. And any vote to exit would represent a real bodyblow to the economy.

Thankfully, Mr Rennie at least touched on the EU issue as he commented on the Scottish GDP figures this week.

He said: “Edinburgh’s position as Europe’s fourth-largest financial centre is at risk if the Conservatives’ flirtation with an EU exit comes to pass.”

Edinburgh’s status as a major financial centre would be at risk in such an event. And so would a lot else besides.

So, while there is no denying the Scottish economy is in much weaker shape than that in the UK as a whole, we should recognise which problems are being caused by governments and which are not.

Some of the problems have undoubtedly been created by the Westminster Government. The scale and mix of austerity is, to put it mildly, totally ill-judged. And just why would you put an already weak economy at risk by promising a referendum on EU membership?

There is undoubtedly room for debate on some of the SNP administration’s policies, including the effect of the council tax freeze. But any shortcomings surely pale into insignificance relative to the Conservatives’ decisions to continue to pursue an austerity agenda that clearly has not worked and to risk the UK’s relationship with its key trading partners in the EU.

We were meant to have had “a march of the makers” accompanying the austerity but this has not materialised, and UK manufacturing is in grim shape.

And what about the massive impact on inward investment in Scotland and elsewhere in the UK if there were a vote to exit the EU? After all, many companies from outside Europe which set up in the UK do so mainly to gain access to the great and lucrative EU single market.

It is also worth noting the Scottish GDP figures would have been even weaker had it not been for major public spending on rail and road projects, including the Forth Replacement Crossing.

The SNP administration is about as much to blame for the current weakness of the Scottish economy as the former Labour government at Westminster was at fault for the global financial crisis: not at all.