Oil reliance ‘could cost £4billion’

By Andy Philip

Published: 07/12/2013

Scotland could lose about £4billion if it relies on oil money in the first year of independence rather than projected UK revenues, according to academics.

The drop in income is because Scotland would no longer be part of the current Barnett system which transfers money across the UK’s nations and regions.

Instead, an independent Scotland could retain a large geographic share of North Sea revenue.

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