Scotland’s deficit brought down by record oil and gas revenues

These figures are likely once again to provoke fierce debate, particularly with a by-election campaign already underway

Record oil and gas revenues have driven an improvement in Scotland’s public finances.

Annual figures show the country’s deficit has fallen compared with the previous year, but still remains higher than before the Covid pandemic.

The Government Expenditure and Revenue Scotland report shows the impact of the UK Government’s windfall tax on the oil and gas sector.

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