Scottish oil revenues massively underestimated according to new report

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Sunday, 05 May 2013 13:20

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By Martin Kelly

Scotland is sitting on oil and gas revenues worth up to £4 trillion according to a new report set to be published this week.

The David Hume Institute, a highly respected non-partisan body, will this week present analysis which will show that current estimates on the amount of revenue still to be generated by the North Sea have been massively underestimated.

Independence means 'Scotch on the rocks' says CBI as SNP ridicules latest scare

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Monday, 29 April 2013 20:44

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By Martin Kelly

A London based lobbying group has been ridiculed after claiming that the Scotch whisky industry would be less likely to be successful if Scotland became independent.

Speaking today, John Cridland told the Scotch Whisky Association that it would be "difficult to sustain success by being apart".

Scotland Office 'asleep at wheel' on EU agriculture policy reform

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Wednesday, 24 April 2013 17:19

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By a Newsnet reporter

Angus MP Mike Weir has accused the Scotland Office of being “asleep at the wheel” and not understanding the dangers to Scotland’s farming industry shown by the aspiration of the current DEFRA secretary to end direct payments out of the Common Agricultural Policy (CAP).

Mr Weir raised the issue during Scottish Questions in the Commons and said that the Scotland Office Minister David Mundell clearly did not understand the importance of the issue.

New oil discovery in Scottish North Sea sector

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Tuesday, 23 April 2013 14:04

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By Martin Kelly

A new oil field has been discovered in the Scottish sector of the North Sea it has been announced.

Premier Oil confirmed the find at their Bonneville exploration well just south of the Catcher discoveries, 150 km off the shore of Aberdeen.

Independence would boost economic opportunities for Scotland

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Tuesday, 23 April 2013 07:04

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Responding to the Fiscal Commission Working Group’s report on currency and operation of monetary policy, the Scottish Government has endorsed their views that a Sterling zone monetary union is the best option for an independent Scotland.

The Scottish Government’s currency paper, published today, fully endorses the findings of the Fiscal Commission Working Group’s expert report that as an independent country in a Sterling zone Scotland would have the powers needed to exploit areas of comparative advantage and also tackle those areas where we need to improve performance.

Treasury admits £16 billion 'mistake' in nuclear decommissioning costs

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Monday, 22 April 2013 00:01

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By Martin Kelly

The UK government has been accused of "failing to keep its word" after an official document revealed that the cost of decommissioning nuclear power plants had been underestimated to the tune of £16 billion.

According to a House of Commons Committee of Public Accounts report the Nuclear Decommissioning Authority’s estimated cost of civil nuclear decommissioning increased by around £16 billion to £53 billion between 2007 and 2011.

Labour Attendance Allowance cut has robbed Scots of over £1/4 billion

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Sunday, 21 April 2013 12:40

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By G.A.Ponsonby

Over one quarter of a billion pounds has been cut from Scotland’s budget over the last ten years due to the last Labour government’s decision to refuse to pay Attendance Allowance for elderly Scots.

A letter from Cabinet Secretary for Health and Wellbeing Alex Neil has revealed that the UK Labour government’s decision in 2002 to abolish Attendance Allowance resources from Scotland’s budget has cost Scotland around £270m.