Falling North Sea tax revenue out-turns and forecasts highlight why Scotland’s future fiscal balance is expected to be worse off than the UK’s

The Centre for Public Policy for Regions recently published a Briefing Note which came to the conclusion that, based on latest Office for Budget Responsibility (OBR) forecasts, Scotland’s public finances would be significantly worse off than the UK over the period up to 2018-19. Here John McLaren and Jo Armstrong summarise their research and call on the Scottish Government to revise its projections of North Sea tax revenues.