Likewise as a practicioner up here, I partly understand Ed's point. He's not however mentioning two key factors.
The first is that, given acceleration of capital spend programmes previously, the inevitable consequence was always going to be a reduction in future years.
The other obvious issue is that the Scottish Government does not have control of it's budgets, which are set by Westminster and which have already taken a 1.5 billion cut or thereabouts for this year with similar to follow.
That's the principle issue; Scotland gets less back in funds than it currently contributes to the treasury. And it can't borrow either - unlike a Council. Some might be yet to be convinced about independence (not me - I am firmly in favour of it) but at the very least, full fiscal autonomy and letting us keep the tax revenue raised here to be spent here makes increasing sense.
Even the idiot lib dems believe this now - shame they're even more irrelevant than the tories up here.