- Location
- NYC (né Falkirk)
- Pronouns
- he/him
Interesting article from the Scotsman on a potential North Sea wealth fund, the IPPR having estimated that had the UK followed Norways example and set one up it would be worth more than £500bn today.
Apparently such a fund was under discussion in the late 1970s but the economic outlook at the time precluded it. What if one had been set up in the dying days of the Callaghan government? If they could muster enough support from say the SNP to pass it.
Would the Conservatives have dismantled it as soon as they could? If not would would the effect of not being able to use oil revenues to reduce tax have on the stability of 80s governments? What would the long term consequences be for the UKs economy from the presence of one? Does this become even more of a bugbear for Scottish nationalists than pissing the revenue up the wall did, "It's Scotland's oil fund"?
Apparently such a fund was under discussion in the late 1970s but the economic outlook at the time precluded it. What if one had been set up in the dying days of the Callaghan government? If they could muster enough support from say the SNP to pass it.
Would the Conservatives have dismantled it as soon as they could? If not would would the effect of not being able to use oil revenues to reduce tax have on the stability of 80s governments? What would the long term consequences be for the UKs economy from the presence of one? Does this become even more of a bugbear for Scottish nationalists than pissing the revenue up the wall did, "It's Scotland's oil fund"?