Confusing claims

The conflicting valuations of the worth of oil and gas reserves by Holyrood and the UK Treasury do not bode well for the negotiations that would follow a Yes vote in the independence referendum (your report, 4 September).

As yet there is not even agreement on what section of the North Sea an autonomous Scotland would be responsible for. That in itself could ultimately become a matter for arbitration.

The varying assessments of the worth of reserves and the tax revenues that would accrue is simply going to complicate the matter further.

North Sea oil and gas revenues are likely to be an essential component of an independent Scotland’s economic base. It is not just uncertainty about the volatility of oil prices in the future that make predictions difficult.

It is the fact that in the post-referendum negotiations – over who gets what – a government representing around 55 million people (the rest of the United Kingdom) will be negotiating with a government representing just over five million. Whose side will the cards be stacked on?

All this will not take place in isolation from discussions on the national debt.

There are bound to be differences over whether Scotland’s share should be based on population or gross national product. It will suit First Minister Alex Salmond’s government to base it on the former.

But that might be considered unfair by the current coalition government or its successor.

The forthcoming white paper on independence might cast some light on both issues.

But I suspect it will simply lead to another bout of claim and counter claim which further alienates and confuses the voters.

Bob Taylor

Shiel Court

Glenrothes

It is intriguing to note the report published by the Chancellor, George Osborne, claiming that £1.5 trillion worth of oil and gas revenues remaining in Scotland’s waters is an “overestimate” by the Scottish Government (your report, 3 September).