The Scotsman cartoon: Scottish independence and oil

The Scotsman cartoon 29/10/13

The Scotsman cartoon 29/10/13

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Oil money “would fail to fill the gap” left by the loss of UK revenues if Scotland becomes independent, according to academics.

Spending cuts would be required to achieve the Scottish Government’s goal to establish a Norway-style oil savings fund, Glasgow University’s Centre for Public Policy for Regions (CPPR) said.

Scotland could cut its defence and foreign affairs budget to a level similar to other small independent countries to bridge the gap, the academics said in a report.

Illustration by Iain Green

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