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Labour’s shameful record on oil.

09 Jan

published by one more yes

Labour's shameful legacy

“During its period in office, Labour raked in £93bn from the North Sea and didn’t save a single brass farthing of it!” Nicola Sturgeon, FM at FMQ’s 08/01/2015.

By not developing an oil fund, Labour has sabotaged Scotland’s economy and future spending on welfare.

Norways’ oil fund currently stands at ~£500Bn allowing them to protect their economy, spending on welfare and their oil industry when oil prices are low.

Instead, through their economic incompetence, Labour has left the Scottish Government to pick up the pieces.

Unfortunately, thanks to Labour campaigning for a No vote, they have ensured that Westminster retains full powers over oil, leaving the Scottish Government with little more than an influencing role to get Westminster to assist the industry.

Labour should be ashamed of their record on oil and how much they have undermined Scotland.

Norwegians can think themselves lucky that they have no such ‘cuckoo in the nest’ as the Labour party in their country!