North Sea oil rig
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IFS warns of challenges for an independent Scotland

An independent Scotland would face long-term fiscal challenges, a new report has claimed.

The Institute for Fiscal Studies said that in the short term the picture would not look dissimilar to the UK as a whole.

But it argued that over the longer term, Scotland would face a bigger fiscal adjustment than the rest of the UK, if North Sea oil and gas revenues fall as expected.

Lorna Gordon reports.

  • 19 Nov 2012