Saturday February 22, 2020

Falling oil revenue widened Scotland's deficit

9.5 per cent figure is more than double UK's budget gap

24th August, 2016
Falling North Sea oil revenue has hit Scottish budget figures. Pic: Getty

Figures released by the British government this morning show that Scotland’s budget deficit was 9.5 per cent of the country’s economic output in the tax year 2015-16. This compared with a 4 per cent deficit for the whole of Britain.

Scotland’s share of North Sea oil revenue was £76m in 2015-16, compared with £2.25 billion the previous year and almost £11 billion in 2011-12.

According to the Government Expenditure and...

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