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Scotland would face ‘calamity’ if first Indyref won as key SNP financial pledge now folded | UK | News

CEO of the Scottish Business UK commerce physique Struan Stevenson spoke with and revealed a key financial pledge the SNP made again in 2014 to bolster their independence marketing campaign has since fallen by. Mr Stevenson mentioned Scotland would be in a “calamity” if they backed independence and wagered North Sea oil may fund the Scottish economic system. Since then, oil costs have shrunk with international locations now transferring in direction of renewable vitality as Mr Stevenson laughably identified First Minister Nicola Sturgeon has appointed new surroundings posts in current months. 

Speaking to, Mr Stevenson regarded on the SNP’s independence marketing campaign and the social gathering’s want for an additional referendum. 

Ms Sturgeon introduced earlier this year that she and the SNP would marketing campaign for an additional referendum and would push forward with one with out Westminster approval. 

But Mr Stevenson famous the promise that North Sea oil would fund independence would have prompted “calamity” as the commodity has seen its worth and reliance slashed. 

He advised “If we voted for independence back in 2014 we would now be facing a calamity.

“Because the oil worth collapsed and that was the idea of Alex Salmond’s white paper, promising financial prosperity in an impartial Scotland when oil was over $110 a barrel. 

“Prices plummeted since then.

“And in any case, no nation on the planet can now base its financial future on fossil fuels and Nicola Sturgeon has simply appointed that vitality net-zero minister.

“So we’re talking about closing the North Sea.

“So economically we’re dealing with the largest recession in our historical past and greater than the 314 years that we have been within the Union, we’re dealing with as a Union and as the Scottish nation our largest recession than our historical past.

“We have to concentrate all our resources on recovering from that.”

North Sea oil has traditionally been utilized by the SNP as a method to fund an impartial Scotland and was a key a part of their political campaigns within the Nineteen Seventies. 

The Lord Provost of Aberdeen put these hopes to mattress as he remarked the oil business within the North Sea is on the decline and the tax income will finally flip to “nothing”.

The worth of Brent crude dropped to its lowest degree in 20 years in the course of the peak of the coronavirus pandemic final year as industries have been unable to completely utilise provide.

An overabundance of oil and never sufficient space for storing meant the value went into damaging territory.

Mr Stevenson and a whole bunch of Scottish Business UK members have penned an open letter to Nicola Sturgeon urging her to concentrate on the pandemic and to place apart her marketing campaign for independence. 


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He additionally advised there have been companies on the open letter who had beforehand supported the SNP within the 2014 referendum however have now U-turned on their assist.

Ms Sturgeon seems to have taken discover and because the May Scottish elections, she and the SNP have targeted extra on COVID-19. 

Scotland is presently at degree 0 however the deceptive title doesn’t imply all restrictions have been lifted. 

Indoor social distancing and limits on group numbers are nonetheless in place regardless of England lifting all restrictions on July 19. 

Ms Sturgeon just lately introduced there was “strong grounds for hope” for the remainder of the restrictions to be lifted subsequent month. 

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