Minister Danny Alexander calls slump in oil and gas tax receipts ‘a body blow’ for Scottish independence campaign
The Scottish independence campaign has received "a body blow" with new figures showing tax receipts from North Sea oil and gas have dropped by almost a fifth, according to the chief secretary to the Treasury, Danny Alexander.
Figures released on Friday by HM Revenue & Customs show corporation tax revenues from the North Sea have fallen from £4.4bn in 2012-13 to £3.6bn in 2013-14. This would have "serious consequences for the public finances of a separate Scotland", Alexander said.