Oral Answers to Questions

Graeme Morrice Excerpts

Wednesday 19th March 2014 Commons Chamber

[David Mundell]

What we know about the SNP’s position is that it opposes devolution to Scotland and devolution within Scotland with its centralist agenda.

[Graeme Morrice (Livingston) (Lab)]

9. What assessment he has made of the potential effect of Scottish independence on investment in the North sea oil industry.

[The Secretary of State for Scotland (Mr Alistair Carmichael)]

We have already heard from senior business figures that independence presents risk for investment in the North sea oil industry. The sector is facing new challenges, and the United Kingdom offers the strongest basis to unlock the investment needed and ensure that we maximise its potential in future.

[Graeme Morrice]

The Secretary of State will be aware that the Scottish Government’s own figures show that oil revenues dropped by £4.4 billion last year. Does he agree, therefore, that the figures serve to demonstrate the weakness of basing the economic argument for a separate Scotland on unstable oil revenues?

[Mr Carmichael]

The figures illustrate perfectly the opportunities that come to Scotland from being part of the United Kingdom. For an economy that is highly dependent on offshore oil and gas, the size of the UK economy offers us the opportunity to absorb the peaks and troughs that are inevitably part of that commodity.