1.Preheat oven to 170°C/340°F. Grease a shallow 22cm (9-inch) square cake pan; line base and sides with baking paper, extending paper 5cm (2 inches) over sides.
2.Stir butter, sugar and cream in medium saucepan over heat until sugar dissolves; bring to the boil. Reduce heat; simmer, uncovered, 2 minutes. Cool 10 minutes.
3.Stir sifted flours, eggs and nuts into butter mixture; spread mixture into pan.
4.Bake slice about 25 minutes. Stand slice in pan 5 minutes before turning, top-side up, onto wire rack to cool.
5.Meanwhile, make butterscotch icing. Stir butter, sugar and milk in small saucepan over low heat until smooth; bring to the boil. Remove from heat, stir in sifted icing sugar.
6.Spread slice with icing, leave to set before cutting into pieces.
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