We still need UK North Sea oil and gas, the industry's trade body says.
One of Scotland’s most respected economists has delivered a damning verdict on Treasury oil forecasts, arguing tax revenues over the next four years could nearly double those predicted.
Professor Sir Donald Mackay described the figures from the Office for Budget Responsibility (OBR) – which recently downgraded its outlook for the North Sea – as “precisely wrong”.
In a detailed analysis, the former advisor to the Secretary of State for Scotland – including the last four Conservatives to hold the post – backs the position taken by industry body Oil and Gas UK.
