Oil company profits double but are they taxed appropriately?

Primary Author or Creator:
Ross Mcalinden
Business for Scotland
Alternative Published Date
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Fast Facts

"Oil company profits double but are they taxed appropriately?"

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"Under the current constitutional arrangement, Scotland is being bled dry of its natural resources and seeing none of the benefits. A country as resource rich as Scotland should be thriving, but instead it is sinking under the dead weight of the failing UK economy. An independent Scotland would need to work closely with the oil companies and agree a sustainable approach to extraction and taxation. That would include a more stable tax regime, which would be welcomed by the oil producers but taxes would be higher. If there is a role for tax incentives, it would have to be linked to investment in renewable energy. This would make the big oil companies part of our plans to become a world leader in replacing oil, generating strong economic growth and creating higher paid, higher skilled and higher quality jobs, whilst helping to save the planet. "