DAVID Cameron has rebuffed the SNP Government's call for an immediate injection of about £5 billion capital investment to boost the UK economy.

First Minister Alex Salmond spoke of the need to take urgent measures to get the country out of the slough of despond and avoid a treble-dip recession.

At the annual meeting of the Joint Ministerial Committee in Downing Street, the First Minister spoke of the need to improve the access between Scotland's airports and Heathrow and end the "crisis of connectivity".

The meeting was chaired by the Prime Minister and attended by all the leaders of the devolved administrations.

He accused British Airways of taking advantage of its monopoly position on flights between Glasgow Airport and Heathrow with fares going up 30% and insisted if Holyrood had control of Air Passenger Duty and was able to lower it, this could help increase competition.

Mr Salmond said: "All of the devolved administrations have made the point that in addition to the other efforts being made on monetary policy and long-term infrastructure investment, there is a dramatic need for an immediate injection of capital investment into the economy.

"The construction industry is one of the key sectors that's dragging back economic recovery, which is the reason for the double dip, potentially treble dip recession, and therefore the urgent requirement for an immediate capital injection is being made by the administrations across these islands."

The First Minister pointed to how the construction industry was crucial to generating recovery. He stressed he had used the phrase "treble dip recession" loosely but noted the UK economy had now had negative growth for three quarters.

"I was pointing out, for example, in the last comparable figures, if the construction industry had been flat instead of falling, Scotland would have grown by 0.4% in the first quarter as opposed to declining by 0.1% and the UK would have had flat growth as opposed to a 0.4% of a decline; that's how important the construction industry has been to these figures."

Mr Salmond pointed out how private sector housing projects took time while major public sector "shovel-ready" ones were possible now, adding: "We would guarantee that the money would be spent over the next year and we have got the list of projects."

Mr Salmond said there was no commitment from the PM to comply with the demand for immediate capital investment.

"I can't see a reason why an immediate capital injection –we've suggested £5bn across the UK – would not have that immediate remedial impact in the construction sector," he said.