The local authority’s flagship vision for the future of Aberdeen city centre was in “complete chaos” last night amid claims that it may have to be “rewritten”.

Just two weeks after councillors unanimously approved the city centre masterplan the council’s finance chief has admitted there is a “big worry” about the accuracy of crucial documents.

Labour’s Willie Young raised the concerns after the prominent economist Tony Mackay said that the business plan for the blueprint was “very poor” and that it “does not provide a framework for proceeding with the key projects”.

The expert claimed there was little evidence to support assertions that the masterplan would create 5,000 jobs and boost Aberdeen’s economy by £280million – and even suggested the council risked repeating a “fiasco like the Union Terrace Gardens”.

Mr Young, the council’s finance convener, said he would raise the issue with council chief executive Angela Scott.

“I’m going to speak to the chief executive today, because he’s having a go at the economics,” he said.

“We’ve got a high regard for Tony Mackay. We’re concerned about what he’s saying about the business plan being poor. There’s a big worry about the business plan from what he’s saying.

“We will have to check that with the chief executive to see if she’s needing to rewrite it.

“Obviously we’ve got to establish that we’ve got the finances to move it forward. The city council can’t do it ourselves, we need the private sector to be helping us.”

Councillors from all parties joined forces last month to back the masterplan document, claiming it would mend Aberdeen’s “broken heart”.

A total of 49 schemes are included in the blueprint, including the pedestrianisation of much of Union Street, an expansion of Union Terrace Gardens, a new foot-bridge over the River Dee, and revamps of the city’s shopping centres.

However, fears have been raised about the funding for the schemes, with council leaders admitting 80% of them are outwith their control.

Mr Mackay, in his monthly economic report for the north-east, said the masterplan’s socio-economic review “gives no explanation” to support the claims on jobs and economic impact.

He added: “It appears to have been written before the collapse in oil prices, so much of the information in the background paper is out-of-date and much of the analysis needs to be redone.”

On another vital supporting document, Mr Mackay said: “The business plan is very poor and does not provide a framework for proceeding with the key projects. It needs to be rewritten. That view is shared by many councillors and senior officials.”

The economist said he would provide the local authority with detailed comments on the masterplan over the coming weeks.

Kevin Stewart, SNP MSP for Aberdeen Central, said: “It seems that just days after the publication of what was supposed to be a flagship document and provide a vision for the city, we now have a situation of complete chaos where a man who used to advise the Labour Party in the city has called the plan into question.”

Conservative councillor Alan Donnelly said: “We’ve got £19.5million for regeneration but that’s a fraction of a percent of what’s needed for the city centre.

“I’m aware it’s over a long time but I desperately think and believe we’ve got to go back to Sir Ian Wood or people from the oil industry, because at the moment the maths don’t add up.”

A city council spokesman said: “Council last month unanimously agreed the city centre masterplan subject to a number of tasks for officers to complete.

“This included detailed scrutiny on each project with a report back to councillors prior to proceeding, a review of all relevant financial strategies with a report back on any necessary changes, and a report to council in August on governance arrangements for the planned City Centre Masterplan Reference Group plus the establishment of an in-house officer team to guide the implementation of the masterplan.

“The chief executive will also report to the finance, policy and resources committee in September on a proposed programme of enabling works – and regular update reports will be produced for council as the masterplan is progressed.”