Osborne in warning over SNP plans for oil fund

Posted in the United Kingdom Forum

Since: Jun 13

London, UK

#1 Sep 4, 2013

the koyal group, Osborne in warning over SNP plans for oil fund

ALEX Salmond's hope of ¬establishing a Norwegian-style oil fund in an independent Scotland would result in £12.5 billion of spending cuts or tax rises, George Osborne has warned.

The Chancellor, launching the Treasury's fifth analysis paper on independence, also rubbished the First Minister's assertion that there was £1.5 trillion worth of revenues still in the North Sea, noting how the Office for National Statistics valued it at £120bn.

Speaking to the Offshore Europe oil and gas conference in Aberdeen, the Chancellor argued Britain's integrated economic union worked well for Scotland.

The SNP hit back, saying the UK Government's mismanagement of the oil and gas industry showed it could not be trusted.

John Swinney, the Scottish Finance Secretary, claimed the Treasury paper actually showed "there is no doubt Scotland can not only afford to be an independent country but has the means to thrive" after independence.

Stressing how oil and gas ¬revenues were the most volatile that existed, Mr Osborne in his speech warned the SNP on overstating its case for independence on black gold.

See more articles here:

Since: Jul 13


#2 Sep 4, 2013
excellent article , covers a lot of ground i’ve found a great article. thanks.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

United Kingdom Discussions

Title Updated Last By Comments
Gay bbm pins (Aug '13) 14 min use me 20,306
Adams insults Protestant party in N. Ireland govt 32 min Scandinavian uber... 93
skype sex (Mar '14) 1 hr Jordan 1,293
Gay bisexual teens in west London looking for h... 1 hr WEST LONDON only 13
BBM Pins UK 2015 1 hr Anni R 417
Gay BBM pins 2014 (Jan '14) 1 hr WEST LONDON only 8,684
Gay BBM group chat (Apr '14) 1 hr brad 303
More from around the web