CHARLIE Kerr writes that Scotland will only get £480 million from oil recovered from the Moray Firth, while Norway will get £25 billion (Long letter, January 28).
I’m afraid it is much worse than that. Scotland does not get a penny from oil production anywhere in Scottish waters as all petroleum revenue taxes are sent direct to the Westminster Treasury. The UK Government even set up a new “ex regio” area covering Scottish waters to ensure that the petroleum revenues were not allocated to Scotland, thereby perpetuating the myth of "too poor".
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Meanwhile wealthy Norway, with lower total production than Scotland, has set up a $2 trillion fund for the future. The UK Government, on the other hand, has wasted every penny by cutting income taxes for the wealthy from 60% to 40% and leaving absolutely zero for future generations.
The disastrous waste of our oil wealth is probably the worst theft ever perpetuated on Scotland.
James Duncan
Edinburgh
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