Speaking on Reporting Scotland last night, Liz Cameron - the Chief Executive of Scottish Chambers of Commerce - said that new financial powers needed to be used "sensibly" in order to support business growth.
Last week, she warned that higher taxes in Scotland could lead to a loss of talent as people leave Scotland for opportunities elsewhere.
Ms Cameron told the BBC: "Economically, we are absolutely on a knife edge with regard to the potential of Scotland re-entering a a potential recession. That is an absolute wake up call that every policy that comes out of our new government and every opportunity that new devolved powers will create must be utilised sensibly and absolutely focused on how we can help business growth."
Commenting, Ruth Davidson said:
"This is a timely warning from Liz Cameron. All this week I have been visiting job creators across Scotland and they are telling me we need to focus on boosting jobs and growing our economy. If we don't, the consequences are stark.
"My opponents in this campaign are only focusing on how much extra they can take out of workers' pay packets. They have given us no answers at all on how we grow the economy and increase the revenue base available for schools and hospitals.
"There is nothing socially just in making us the highest taxed part of the UK if all it does is damage the economy and reduce funds for our vital public services."