The Scotsman cartoon: Scottish independence and oil

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

The Scotsman cartoon 29/10/13
The Scotsman cartoon 29/10/13

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.

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Illustration by Iain Green