Scottish PM Says Independence is Not Reliant on Oil Price

The case for Scotland being an independent country with — or without — oil is as strong as ever, Scottish leader Nicola Sturgeon told CNBC Monday.

Speaking to CNBC on the sidelines of the COP21 United Nations conference on climate change Sturgeon, the First Minister of Scotland and leader of the Scottish National Party (SNP), said the country could manage independence despite the sharp drop in oil prices on which Scotland relies for much of its economic wealth. The price of oil has fallen from $114 a barrel in June 2014 to around $40 today.

“I think the case for Scotland being an independent country with or without oil is a strong one,” she said Monday.

“You take oil out of the equation for the economy and I think our output per head is broadly similar to the rest of the U.K. and for most of my lifetime we’ve had higher tax receipts than the rest of the U.K. as a whole so we’re a strong and diverse economy,” she added.

via CNBC

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