SNP calls for £1bn new North Sea oil tax bonus to be invested in Scottish jobs


New projections by Oil & Gas UK, the industry trade association, forecast that the North Sea industry – the vast majority of which is in Scottish waters –  will bring in about £1 billion in tax this financial year to the Brit-Govt treasury in London.

This is a startling reverse from the previous 12 months when it failed to generate any revenues for the Treasury.

A rise in the price of Brent crude, the international benchmark, coupled with higher production and lower costs are the main drivers behind the turnround.

Yesterday, the SNP called for these tax revenues of up to £1 billion to be reinvested in Scotland’s economy and in futureproofing the sector to maximise jobs over the long term.

SNP MSP for Aberdeenshire East, Gillian Martin, said: “Failure to do so will only heighten calls for Holyrood to be given full powers over the oil and gas industry, including revenues, so that the Scottish Government can take the action needed to protect jobs <if Westminster does not>.

Gillian Martin, MSP
Gillian Martin, MSP

“This North Sea cash boost must not just go straight to the Treasury coffers and never be seen again by the industry or by Scottish communities.

“Better still, they could devolve full control over the oil and gas industry, including revenues, to Scotland – and allow the Scottish Government to take the action needed to maximise jobs and return from our energy sector

“The oil and gas industry needs continued support from the UK government in order to protect against future downturns – and the industry should see a return on the revenue it is generating through appropriate levels of reinvestment in the sector, to protect jobs across Scotland.”


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Brent crude oil-price tracker on Scottish Energy News

Scottish Energy News is presently offering a premier-position sponsored-advertising banner (which would be interactive and click-able to the sponsor’s website)

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The Scientific Alliance banner-adv – as displayed on the home page at – and which updates on each click with the latest live UK electricity generation per thermal source.

We know – and can prove – that Scientific Alliance banner-adv is one of the most frequently visited and clicked adv on the Scottish Energy News daily e-newsletter.

Any such sponsored-adv would be published on both the home page of the  website and in the daily e-newsletter sent to 4,500 individually-addressed recipients.

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For more information:

Ph + 44 (0131) 476 4735

6 Feb 2012



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