AN SNP MP has hit out at the UK Government’s continuous failure at managing the country’s oil potential.

This follows an International Monetary Fund (IMF) report which shows the UK’s public finances to be among the weakest in the world.

The SNP have long-lobbied for an oil fund to invest the £1 billion raised from North Sea revenues in Scottish commodities.

Kirsty Blackman MP said: “This report highlights that the UK financial ship is barely afloat.

“Successive Tory and Labour governments at Westminster have shunned SNP calls to publicly hold oil wealth like Norway that could be worth £500bn.

“Whilst UK economic mismanagement is failing Scotland, independence offers the chance to take ownership of our assets and secure our economy for the future.”