ROD  CAMPBELL, SNP PPC FOR NORTH EAST FIFE, has  warned  of  a  double  whammy  for  families  across  Scotland  as  oil  prices  continue  to  rise.

“Given the cost of petrol at the pump and the increased strain  on family budgets it is vital that Scotland does not suffer the double whammy of high fuel costs  as  well  as  a  failure  to  invest for the future.” said  Mr. Campbell. 

Welcoming the Scottish Government’s  commitment to commission an investigation into the creation of an Oil Fund for Scotland,  drawing on international experience in Alaska and Alberta and  independent  Norway,  Rod  Campbell  urged  immediate  action.

“At a time when the UK treasury is in receipt of windfall of at least £4.5  billion pounds as a result of the increase in oil prices and the consequent increase in oil revenues, it is vital that Scotland learns the lessons of the 1970s  when the true worth of oil reserves was misrepresented by Unionists ,” he said.

“An oil fund would enable Scotland to ensure that oil wealth is invested for Scotland’s future. The  oil  fields off  Scotland’s  shores  represent  a  unique  opportunity  to  safeguard  our  nation’s  future  by  establishing  a  reserve  of  cash  that  would  pay  for  schools, hospitals  and  infrastructure  for  generations  yet  unborn.    In value terms there is now likely to be as much value in the waters around Scotland than has been extracted to date.” explained  Mr. Campbell.

“In  immediate  terms  the   establishment of a fuel regulator system could help to temper the pain of rising prices by curbing rises in fuel tax revenue which would be used to take the edge of fuel price rises.”

“Ordinary families in Fife are feeling the effect of rising costs it is up to a Labour Government in London led by a Fife MP, Gordon Brown to respond.” he said.

North East Fife  SNP  Contacts :