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Scotland's Oil


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NCC in full clown mode here.

We are talking about the ACTUAL REAL SHORTFALL in the Scottish Government's own prediction of oil revenues for 2013/14.

That's based on the figures of actual income published on 14 August.

As opposed to the fantasy estimate for 2013/14 that had it as double.

The SG are using these flawed estimates for their own budgetting - they are already saying they will have to borrow to cover the existing shortfall of £2.4 billion in 2018/19. If their estinates are wrong this year why on earth should we believe them beyond that?

Where I do disagree is how this will be financed - the press are saying higher taxes or reduce spending commitments - there is the option of borrowing more than they intended. If that is the case then least be bloody honest about it instead of going down this fantasy route.

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You are though - deliberately obtuse because the actual figures are nowhere near the estimated figures.

For the millionth time, whether the figures are 15bn or 24bn or 64 kablillion, it's all gravy.

We're rich even without factoring in a drop of the black stuff,.

24bn is not unfeasible, btw, as much as you want to deny it. Same goes for discoveries and production. Who knows what's out there.

Keep up with the desperation though. Nasty, nasty oil!

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To who and about what are you slavering aboot ?

Sorry; for the hard of thinking someone previously spoke about being 'rich' - it might have been a whole 2 posts before mine, so people with the attention span of a goldfish have struggled with this.

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Sorry; for the hard of thinking someone previously spoke about being 'rich' - it might have been a whole 2 posts before mine, so people with the attention span of a goldfish have struggled with this.

You're getting a bit touchy.

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NCC in full clown mode here.

We are talking about the ACTUAL REAL SHORTFALL in the Scottish Government's own prediction of oil revenues for 2013/14.

That's based on the figures of actual income published on 14 August.

As opposed to the fantasy estimate for 2013/14 that had it as double.

The SG are using these flawed estimates for their own budgetting - they are already saying they will have to borrow to cover the existing shortfall of £2.4 billion in 2018/19. If their estinates are wrong this year why on earth should we believe them beyond that?

Where I do disagree is how this will be financed - the press are saying higher taxes or reduce spending commitments - there is the option of borrowing more than they intended. If that is the case then least be bloody honest about it instead of going down this fantasy route.

Sorry if I have missed this earlier, can you link me to the report or article please?

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NCC in full clown mode here.

We are talking about the ACTUAL REAL SHORTFALL in the Scottish Government's own prediction of oil revenues for 2013/14.

That's based on the figures of actual income published on 14 August.

As opposed to the fantasy estimate for 2013/14 that had it as double.

The SG are using these flawed estimates for their own budgetting - they are already saying they will have to borrow to cover the existing shortfall of £2.4 billion in 2018/19. If their estinates are wrong this year why on earth should we believe them beyond that?

Where I do disagree is how this will be financed - the press are saying higher taxes or reduce spending commitments - there is the option of borrowing more than they intended. If that is the case then least be bloody honest about it instead of going down this fantasy route.

What a shitty post. The Tory way or no way. You sure you're Labour?

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Are you so right wing? We don't spend more than we have. Who told you we did?

Sssssh....

A recent study by the CEBR think tank, based on official tax and spending figures, concludes that Scotland's North Sea oil and gas revenues, with other taxes, means it gets no net subsidy from the rest of the UK.

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Here we go again. Its like trying to explain things to bits of wood.

That deficit is proportionately smaller than that which the UK currently runs. Scotland is wealthier than the rest of the UK.

That is also prior to Scotland cutting out all the needless extravagence like Trident, HS2, cross rail etc.

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