The Budget 2011

[weetoonboy]

George Osbourne has deleivered his budget for the years ahead. It almost business as usual. And a very English budget, other than that Scottish oil will make up the loss in fuel revenue. The Headlines all say a penny off fuel that equates to about 0.75% off the price of a litre. When the prices at the pumps are highest in Scotland and especially rural Scotland it seems we and our businesses will continue to bear the brunt of the worlds oil woes.

[Sheik Yir Erse]

Surely it was two of "our" largest businesses (RBS and HBOS) that caused the brunt of the current economic woes?

I don't recall it being solely "Scottish oil" money that bailed them out - which had the primary benefit of retaining tens of thousands of jobs in Scotland

[weetoonboy]

Just so we are clear - I am no Nationalist. I believe in the UK.

The only thing that will really have any impact on Scotland is the Fuel duty. And one pence off each litre does not benefit the residents of our fine little peninsula. Youd have to put 3000litres in your car to save £30.

I like you, can choose to use your car or not, but the local businesses need transport to ship their goods, so a penny per litre to them is chump change. If I was considering locating my business to Campbeltown the shipping costs are going to take a larger chunk of my profits, and therefor making Campbeltown lesser of an attraction.

And 10,000 jobs ( http://www.bbc.co.uk/news/business-12844157 ) are under threat due to the windfall tax placed upon the industry. Scaremongering I suspect but all the same.

P.S. RBS and HBoS should have been allowed to fail as should all banks in the future.

[Sheik Yir Erse]

OK - just don't understand why you chose to mention "English budget" and use the expression "Scottish oil" then

If you're argument was purely about rural communities, then there are many rural areas of England faced with exact the same issues as Kintyre.

i.e. the following is just as valid......

If I was considering locating my business to Penzance the shipping costs are going to take a larger chunk of my profits, and therefor making Penzance lesser of an attraction.

........... hence don't see the "English budget" aspect of your argument.

[Hume]

Surely it was two of "our" largest businesses (RBS and HBOS) that caused the brunt of the current economic woes?

Clearly these two were not blameless but was it really RBS and HBOS who gave the UK the second biggest budget deficit in the 'developed' world?

It is of course now a lot worse due to the bail out measures but the UK was hardly in a healthy position prior to that.

I'm not sure about HBOS but RBS was the Royal Bank of Scotland in name only and before the UK Government took the majority stake (by borrowing of course!) it would have been mainly owned by global institutional investors and pension funds.

[Sheik Yir Erse]

OK, we're getting slightly off topic here (my fault) but my comments were in reference to weetoonboy stating it was "Scottish oil" money bailing out a very "English budget"

My referral to HBOS and RBS was merely pointing out that you can't have it both ways!

I could go on for days about the pros and cons of the banking bailout, but that was not really the point of my comment.

[Hume]

OK bank bail outs aside, actually I think weetoonboy is not too far off the mark with his comment on fuel duty. As I understand it, the lost revenue due to the 1p reduction will be made up for by a tax levied on North Sea oil producers. Were it not for these companies being able to pump oil ashore from Scottish waters they would not be here and that would then not be an option.

I agree though, not sure where he was going with it being an 'English' budget.

[weetoonboy]

On the remark about it being an "English budget". (No offence was intended.)

The Enterprise Zones that he talked about are a devolved issue, there wont be any of them in Scotland or Kintyre funded by London. I think? I also think that he talked up reducing the planning red tape put in place by local councils, and, I think thats a devolved issue aswell?

These were a central theme in his speech for promoting growth in deprived areas.

On the "Scottish Oil" it seems ironic that we pay so much.

Just watched Question Time and the budgt was so boring it was second on the agenda, and hardly broke new grounds of debate.