Tens of millions of pounds will be spent on bringing forward a new, affordable housing programme.

And the Scottish economy will be boosted by public works, attracting increased tourism and getting rid of many planning restrictions.

The First Minister set out his “New Deal” to curb the worst effects of the credit crunch, spiralling prices and growing inflation when delivering the annual Donald Dewar lecture at the Edinburgh Book Festival. 

The package includes spending up to £100million on affordable housing this year and next year instead of waiting until 2010-11, as was originally planned.

Mr Salmond said: “The global economic downturn is affecting economies across the world, and clearly Scotland cannot be fully insulated from its effects. We will not simply sit back and wait for conditions to get better.”

Moves will be made to ensure that tourism – now our biggest single industry – reaps the full benefit of next year’s Homecoming 2009.

Mr Salmond’s move follows criticism from opposition MSPs that the  SNP administration is dithering amid growing economic problems.

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