Scotland's North Sea Revenues Collapse By 97%

The Scottish government's revenues from North Sea oil and gas collapsed by 97% to just £60m in the last financial year, according to new figures that have been seized on by pro-union politicians. It is a far cry from 2008/9 when Scotland's share of North Sea revenues peaked at £11.6bn. The latest figures showed that Scotland's fiscal deficit - the gap between spending and borrowing - rose from £14.3bn to £14.8bn.