framheim Posted July 9, 2008 Report Share Posted July 9, 2008 A complicated subject for sure but one that we as aberdonians have a unique perspective on. Anyhoo, Oil and Gas UK have just released a report suggesting that the Treasury will benefit from 6 billion extra in tax from Oil this year, the overall amount is double what they earned in tax from Oil in 2007 yet Labour are still sticking to the line that there will be no 'windfall' from rising oil prices.Battle Over 6bn Oil Bonanza (from The Herald )With the country plummetting into recession and the main cause(as far as i can see) being rampant oil prices then surely this money should be used to give relief to the public as they face the highest standard of living rises since the 70's, primarily through kerrazy petrol prices. The other issue raised by this story is of course the share of money that Scotland should receive for Oil which is from our territory. The focus on Glasgow East this month shows just how poor some parts of Scotland are despite alledgedly benefitting so much from the Union and the Barnett formula(a concept which is a whole other discussion and is disputed by many neutral economists). Should Scotland be allowed to benefit from it's own resources? I think the idea of an oil trust fund is a wholly sensible one and Scotland would be a much healthier country both literally and economically if we had control of our own resources in the current economic climate.So, this could be an interesting discussion or the worst thread ever but let's hear your thoughts. Quote Link to comment Share on other sites More sharing options...
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