Salmond's council of advisers

Sir George Mathewson also told BBC Scotland that some taxes were too high but it was worth looking at cuts in corporation tax.

The former Royal Bank of Scotland chairman will be advising the Scottish Government on boosting competitiveness.

Sir George also brushed off criticism for supporting Alex Salmond.

He told BBC Scotland's Politics Show that he believed Scotland has enough economic tools in the box to meet the target of matching UK growth by 2011.

I think that what's holding us back is a multitude of things Sir George Mathewson

"I think that, first of all, we have agreed that our growth is less than the rest of the United Kingdom, although not everybody agrees to that, but I believe it is," said Sir George, who is chairing First Minister Alex Salmond's council of economic advisers.

He went on: "I think that what's holding us back is a multitude of things. My own personal belief is probably bureaucracy is as big a reason as any."

Sir George also denied opposition party claims that the council had been "shackled" by the SNP government by not being given a remit to discuss public spending.

He also held back from giving his full support to Scottish independence, adding: "I think the important thing currently is to get a well-managed country and lets see how the future develops.

"I see no reason why it should not work ultimately, but I just don't believe in jumping bridges until we come to them."

Sir George, who backed Mr Salmond to become first minister during the May elections over Labour's Jack McConnell, said he paid "no attention" to criticism from then Prime Minister Tony Blair that he was being self-indulgent.