'We WILL make sustainable economic growth our No 1 priority!" Count the number of times you will hear this from Scottish politicians between now in 5 May and you will quickly run out of fingers and toes to keep score. Economic growth has been the stated "No 1 priority" of the major political parties since the onset of devolution. a paper just out from the Centre for Public Policy for Regions finds that, over the past decade, there has been a modest improvement in Scotland's economy, a verdict properly qualified by the continuing repercussions of the global financial crisis and economic downturn. We have certainly avoided the worst fears a year or so ago of a massive rise in unemployment, though there has certainly been no game-changing break-out. However, this verdict, too, needs to be qualified as the string of announcements on investment in renewable energy and offshore wind in particular gives rise to hope that Scotland may be on the brink of building serious critical mass in this area that could put us on the world map. What is desperately needed is a focus on economic policy in the new crimped, post recession landscape, rather than a lazy return to the "Lollipop politics" of yesteryear as if nothing has changed. But first, a reality check. There are limits to what can be done. Corporation Tax, for example, cannot be slashed but will be at the UK rate, 28 per cent - though this is coming down in stages, to 27 per cent from april and down to 24 per cent by the end of the Westminster parliamentary term (small business rate 20 per cent). Second, because of demographics, welfare spending, particularly care for the elderly, is set to increase, not diminish, so talk of a major shift in spending from welfare to capital projects is unrealistic. Third, measures to help small business through de-regulation and relaxation of planning are bound by political constraints and in any event may can take a long time to have a discernible effect. Low business formation rates and "entrepreneurialism" have bedevilled Scotland for decades and the problems are deep-seated. It will require a significant culture shift to effect change. Fourth, infrastructure and capital projects are constrained by a combination of budget cuts and lack of availability of bank finance, likely to persist for the foreseeable future. Fifth, there is no reward for the Scottish Government (in terms of revenue gain) for measures to improve private sector productivity and competitiveness. But