Oil: Prices
(asked on 6th January 2015) - View Source
Question to the Scotland Office:
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.
This question was answered on 14th January 2015
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.