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By John Knox
Political reporter, BBC Scotland
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How to stop Scotland falling into the black hole of recession? That's been the question hanging over Holyrood at the end of what Alex Salmond called "the age of irresponsibility".
Scotland's economy could be heading for a black hole
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MSPs have been suffering from post-traumatic stress as they watched the financial walls falling around them.
In the space of a week, we had another stock market slump, the collapse of banks across Europe, the chancellor's £500bn rescue plan, the emergency cut in interest rates, the council funds tied up in plunging Icelandic accounts.
And this after two previous weeks of turmoil.
At question time, the first minister was urged to do something, almost anything.
Iain Gray for Labour said Mr Salmond should "rethink his economic strategy, restart investment in infrastructure and begin to re-skill Scotland to meet the challenges of the difficult days ahead".
In particular he urged the SNP to ditch its Scottish Futures Trust.
The not-for-profit investment agency was causing delays, he said, and putting at risk 100,000 jobs in the construction industry. Quoting Maynard Keynes he said when the facts change, you should change your policy.
'Exorbitant interest'
Alex Salmond said Labour's PFI method of financing schools and hospitals was "credit card finance".
It was costing £600m in revenue this year alone. "The schools Labour said they built, they didn't pay for. They're being paid for now, at exorbitant rates of interest."
He went on to point out that the Scottish Government was bringing forward £100m of housing investment.
Big construction projects were getting under way, including the M74 extension and the new hospital for Glasgow.
Small business was being helped with rates relief and he announced that the government would from now on try to pay its bills to all small firms within 10 days.
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Against this fearful economic background, the rest of the business at Holyrood seemed like dusting the house as the hurricane approaches
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The Conservative leader Annabel Goldie said the crisis had made people realise that "life would never be the same again, whether as lender, borrower or tax-payer".
She asked about the £4bn required for the new Forth bridge and was told the finance plan would be announced before the end of the year, despite recent events.
For the Liberal Democrats, one of the big issues was trying to save HBOS.
Tavish Scott wondered if the takeover by Lloyds TSB could be revisited, now that all banks were being bailed out by the Treasury.
"We want an independent Bank of Scotland, keeping its headquarters here, branches in every high street and jobs which would otherwise be lost," he said.
'Chinese curse'
Mr Salmond was cautious. "Right now, the Lloyds offer is the only offer on the table and it will be up to shareholders to either vote for it or not."
Caution and fear of recession were all around. The International Monetary Fund has predicted minus growth for the UK over the next year.
"We live in interesting times," the first minister rather nervously told the National Economic Forum earlier in the week.
"It's a Chinese curse," he reminded the 100 or so business people gathered there.
He made the point, as he did in parliament, that he would cut interest rates further and relax Treasury spending rules if he had the power to do so.
Against this fearful economic background, the rest of the business at Holyrood seemed like dusting the house as the hurricane approaches.
At least MSPs have made sure tartan is protected
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There was a debate on what went wrong at the election count in May 2007.
There was a debate on broadcasting and the idea of a new Scottish digital TV channel.
There was a ticking off for senior civil servants by the audit committee over the way they handled the leadership crisis at the Western Isles Health Board.
The petitions committee heard a call for an investigation into gang masters and private landlords in the Govanhill area of Glasgow, where many Roma people from Slovakia have settled.
A review was announced of secure accommodation for young offenders. Apparently many of the 128 places, at the seven different units, are left unused.
There was a skirmish over the cost of providing free schools meals for all children in the first three years of primary school.
Labour claimed that half of all councils were unable to afford it, without cutting some other aspect of their education budget.
'Sense of smallness'
And finally, MSPs unanimously approved Jamie McGrigor's bill to set up an official register of tartans.
Mr McGrigor said: "It will help protect and promote one of our most important emblems and products."
There are some 7,000 tartans in existence, and 150 more being invented every year.
The latest estimate is that the industry is worth £350m a year to the Scottish economy.
Well I suppose every little helps, even at a time when everything seems to be measured in billions.
But it does illustrate the sense of smallness everyone around Holyrood felt this week in the face of the mighty global forces which have overwhelmed all our systems, experts and politicians.
MSPs are now returning to their constituencies for the half-term holiday to rest and think again.
Parliament resumes on 28 October.
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