| Alex Salmond could have stashed away £5bn from North Sea revenues already if he had really wanted to, but the opportunity has been squandered. The idea of an “oil fund” is once more at the forefront of the SNP’s economic case for independence. In his speech to the London School of Economics last Wednesday, Alex Salmond proposed putting aside £1 billion a year from North Sea oil revenues to build up a fund of £30bn over 20 years.
In these pages on Friday, George Kerevan made an elegant case for such a nest egg. Oil revenues could build up a Scottish sovereign wealth fund, invested in long-term assets to perpetuate the windfall from the North Sea...............................................Full Article: Source
|