Oil: Prices

Scotland Office written question – answered on 14th January 2015.

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Photo of John Robertson John Robertson Labour, Glasgow North West

To ask the Secretary of State for Scotland, what estimate he has made of the effect on tax revenue from Scotland of the recent fall in the price of oil.

Photo of Alistair Carmichael Alistair Carmichael The Secretary of State for Scotland

The UK Government’s primary concern is to support the Scottish oil industry, which is so key to our economy.

The UK economy is equipped to deal with volatile revenues, but the recent fall this morning to $45.81 per barrel would have left an independent Scotland’s finances with an £19.9 billion black hole.

Does this answer the above question?

Yes2 people think so

No1 person thinks not

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