TODAY'S Budget will build on Britain's recovery and safeguard its economic future from further debt and risk, Alistair Carmichael, the Scottish Secretary, has insisted.

But John Swinney for the SNP Government called on George Osborne to scrap his failed austerity measures and focus on delivering economic growth by tackling inequality.

For Labour, Margaret Curran claimed after five years the Chancellor had failed the tests he had set himself and what was needed was a Budget for working people across Scotland.

Both Mr Swinney and Ms Curran demanded swift help for the beleaguered North Sea oil industry with a major cut in the tax on company profits. Mr Osborne has already signalled that there will be one and hints have been given that the cut could reverse in full the Treasury's controversial hike of 2011.

Hopes are also growing that in declaring his sixth Budget will be one for a "truly national recovery", in which all parts of the UK will share, the Chancellor will say that Inverness and Aberdeen will join Glasgow in acquiring City Deal status.

Ahead of the economic statement, Mr Carmichael said the progress made during the last five years included record employment levels in Scotland, stabilisation of its finances and debt levels and an extra £2.3bn for the annual Scottish budget.

"Being part of the UK has given Scotland an economic strength and resilience which stands it in good stead for the challenges of the future," declared the Secretary of State.

"Thousands of people across the country are better off because of the tax reforms we have introduced and the opportunities of employment our policies have created. We have cut tax for millions of people while making the right decisions about managing debt, putting our finances on a sound and sustainable footing.

"We've seen clear examples of where we can use our size and resources to weather unexpected shocks like the fall in oil revenues. The Scottish budget has been protected and bolstered, with billions more available to the Scottish Government to spend where it sees fit."

Mr Carmichael said today's Budget had to be seen in the context of the need to further reduce the national deficit but was also an economic statement delivered in the context of falling debt, low inflation, record low borrowing and mortgage rates and a level of growth vying to the be the fastest in the G7.

"The measures announced will build on our recovery and safeguard our economy from further debt and risk," he added.

But Mr Swinney argued the UK Government's economic plan was fundamentally flawed and was damaging Scotland's recovery.

"Despite the deep spending cuts we have seen, the Chancellor has not achieved the deficit reduction targets he set himself in his first budget in 2010."

The Deputy First Minister explained how between 2009/10 and 2014/15, Scotland's budget fell by around 11 per cent in real terms and within this figure capital expenditure plunged by around 34 per cent. Consequently, Scotland's budget was cut by £3.5bn in real terms over five years.

"It doesn't stop there," declared Mr Swinney. "Scotland's cumulative share of the cuts to day-to-day public spending over the five years to 2019/20 is forecast to be worth around £14.5bn compared to 2014/15 levels.

"There is an alternative. George Osborne can use today's budget to stop these deep cuts and grow our economy instead," insisted the DFM.

Ms Curran, meantime, stressed how people were worse off now than they were when the Coalition came to power in 2010 with thousands suffering because of the "Tories' cruel cuts" and now they wished to go further with 1930s levels of spending.

This, argued the Shadow Scottish Secretary, would mean £2.7bn taken out of Scotland's budget.

"The Tories won't address any of the problems facing working people," insisted the Glasgow MP. "That's why 50 days from now, we need to elect a Labour Government. One that will increase the minimum wage to £8 an hour, introduce a 50p tax rate and tax bankers' bonuses to get our young people back to work," she added.