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Parliamentary debates and questions

S5W-07996: Alex Rowley (Mid Scotland and Fife)

Scottish Labour

Date lodged: 10 March 2017

To ask the Scottish Government what its position is on whether its economic case in the independence referendum was predicated on the financial contribution that it believed would have been made from oil revenues.

Answered by: Derek Mackay 24 March 2017

Tax revenues from oil and gas production depend on a range of different factors including production, prices and profitability.

Scotland’s economic fundamentals are strong. Even without oil, GDP per head in Scotland is higher than the UK average excluding London.

The North Sea has a bright future, with potential for up to 20 billion barrels of oil equivalent remaining in the UK Continental Shelf. The Scottish Government will focus our efforts on supporting the sector to protect employment, provide valuable primary energy supplies, develop its skills as part of the transition to a low carbon economy, and develop a greater international supply chain that is innovative and generate export led growth.