Scotland's post-independence prosperity linked to oil
Andrew SparrowAn independent Scotland would be richer per head than the rest of the UK if it kept the proceeds from North Sea oil and gas, but would face a crisis when that revenue started to run out, according to the Institute for Fiscal Studies .
The IFS said public spending per head was £1,200 higher in Scotland than in the rest of the UK, but oil and gas revenues would be more than enough to pay for this, provided that they were allocated to Scotland on a geographical basis, rather than shared out equally within the UK. As a result, taking into account North Sea oil, "GDP per head is somewhat higher in Scotland than in the UK as a whole", the IFS said. "If UK debt were shared on a per capita basis, an independent Scotland might inherit a slightly smaller debt-to-GDP ratio than that faced by the UK."
However, the IFS said oil and gas revenues were "very volatile" and this could pose problems for an independent Scotland.
Pour citer cette ressource :
"Scotland's post-independence prosperity linked to oil", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), novembre 2012. Consulté le 02/10/2023. URL: https://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/scotland-s-post-independence-prosperity-linked-to-oil