Scotland Blames London for North Sea Uncertainties

Scotland and London are getting ready for the referendum vote in 65 days, with the Scottish National Party blaming the UK government for the mistakes made in the North Sea. According to the SNP Treasury spokesperson, the review of the tax regimes stems from a sluggish approach.  

“The SNP have been calling for certainty in the North Sea for years – and in the run up to the referendum suddenly Danny Alexander admits there is a problem with the way the UK government treat this important industry,” Stewart Hosie MP, SNP Treasury spokesperson, commented in a note released on Monday. 

Hosie also pointed the finger at the possible confusion the review might foster 

“The unpredictability of the Westminster fiscal regime has caused uncertainty in the industry for years. In the last few years of this UK government alone, we have seen a massive hike in the supplementary charge - the panic introduction of new field allowances - and even this year the introduction of  changes to the way oil rigs and accommodation vessels are taxed. If the UK government is serious about certainty – as they claim - these measures clearly should not have been introduced before a review. It is becoming increasingly clear that only with independence can the much needed stability and predictability for the North Sea be fully realised.” 

At the other end of the spectrum, London said that the UK is Scotland's most important commercial partner. According to new statistics released by the Department for Business, Innovation and Skills - ‘the biggest and fastest growing market for Scottish goods and services, outside Scotland itself, is the rest of the UK.’

The British government also said that Scottish exports to the UK are almost double what Edinburgh exports to the rest of the world combined. Its exports to the UK are equivalent to a third of Scotland’s GDP.