OBR figures show SNP oil assertions were “a tissue of lies”

8 Mar 2017

The OBR has today cut its forecast for oil and gas receipts in its latest publication today.

Prior to the 2014 independence referendum, the SNP claimed it would receive revenues of up to £11.8 billion in 2017-18.

The OBR today estimates actual revenues for that year at £0.9 billion.

Estimated revenues for all the next four years have been revised down since the OBR’s last report in November.

Scottish Conservative finance spokesman Murdo Fraser said: 

“These are troubling figures which only serve to reinforce the current fragility of Scotland’s oil and gas sector – and shows why the support announced by the UK Government today is so necessary.

“It also throws the SNP’s deception on oil prior to the independence referendum into stark relief.

“The SNP knew their oil forecasts were based on fantasy figures but they tried to fool people anyway. Their oil con has now been exposed for the tissue of lies it was.

“The head of Nicola Sturgeon’s Growth Commission, Andrew Wilson, has admitted this week that oil receipts were part of their spending plans, and not a bonus.

“Nicola Sturgeon and John Swinney have gone into hiding over this scandal.

“They must now admit they were wrong, and spell out how they would fill Scotland’s £15bn deficit in the event we voted for independence.”

http://cdn.budgetresponsibility.org.uk/March2017EFO-231.pdf