Tag Archives: oil revenues

65,000 job losses doesn’t constitute an employment crisis, according to SNP MSP

One of the weirdest things about Scotland at the moment is that there is no great sense of an asteroid, let alone a bullet, being dodged. The SNP’s predictions about oil prices, based on them being around $113 a barrel, have been shown to be well wide of the mark. They said we’d have this massive oil boom. That’s before some of their more excitable supporters started going on about secret oil fields whose existence was being kept from us by a malevolent Westminster establishment.

Nobody really appreciates how lucky we are. Scots could be facing independence, which the SNP had said would happen on 24th March this year, that’s in less than 10 weeks’ time,  with the price of oil barely above a third of their estimates. It wouldn’t be much freedom for people who desperately needed public services. There would have to be either massive cuts or massive tax rises to cope with that massive hole in the public finances.

The plummeting oil price had, according to Oil and Gas UK, cost 65,000 jobs as far back as last September. It’s had a devastating effect on the economy of North East Scotland. Aberdeenshire West MSP Dennis Robertson doesn’t seem to think so, though. He said that there was no jobs crisis in the North East.

From the Official Report:

Posted in News | Also tagged , , and | 3 Comments

Willie Rennie on Newsnight Scotland: You have to be cautious when you predict oil revenues

There’s been a bit of a stooshie over future North Sea oil revenues in the last week or so. First, as the BBC tells us, a leaked draft of a Scottish Government report said that volatility in projecting revenues created uncertainty and could lead to spending cuts. Now, Alex Salmond tells us that it’ll all be fine and there’ll be a great big oil boom just as Scotland becomes independent. The SNP projections for the first year of independence are pretty much double what the OBR predicts.

Scottish Liberal Democrat leader Willie Rennie went on Newsnight Scotland on Monday night …

Posted in News | Also tagged , , , , and | 2 Comments
Advert



Recent Comments

  • User AvatarManfarang 10th Jul - 4:44am
    John Keynesian is now rather traditional.
  • User AvatarMichael BG 10th Jul - 2:10am
    William Wallace, You mention a social contract. How do you feel about the concept of a new Beveridge-type Social Contract which Katharine Pindar and I...
  • User AvatarRoland 9th Jul - 11:00pm
    I suspect "active citizenship" isn't that dissimilar to what David Selbourne wrote about in his book "The Principle of Duty: An Essay on the Foundations...
  • User AvatarRuth Bright 9th Jul - 10:52pm
    Thanks so much for this discussion everyone. My Dad would have been one hundred years old today. I wish we could have sorted this one...
  • User AvatarJoe Bourke 9th Jul - 10:46pm
    Innocent bystander, I am a little more optimistic for the future. When I lived in the States in the 1980s there was great concern that...
  • User AvatarJoseph Bourke 9th Jul - 10:18pm
    David Raw, this what Peter Sloman of New College, Oxford tells us https://www.repository.cam.ac.uk/bitstream/handle/1810/251445/Sloman%202015%20Contemporary%20British%20History.pdf: ...she married Sir Rhys Williams, a South Wales lawyer, coalowner, and Coalition...