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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

The sums do not add up to allow for a Scottish oil fund

Posted on 07 October 2013

In principle there can be little objection to using the annual tax revenues from North Sea hydrocarbons to establish a stabilisation fund and a sovereign wealth fund. In reality, however, it is pie in the sky, as Finance Secretary John Swinney well knows, not least because all the revenues are being consumed in order to fund a pattern of public spending bequeathed by Gordon Brown, never opposed by the SNP, and barely curtailed by David Cameron’s Coalition.
The UK has an annual fiscal deficit of £120bn. Scotland’s share on the more favourable population ratio basis is at least £11bn………………………………………..Full Article: Source


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