The SNP Government has hailed the boost provided to the country's finances by a tax introduced by Boris Johnson which it bitterly opposed as official figures underlined the value of the oil and gas industry that it undermined.

The Government Expenditure and Revenues (GERS) report showed Scotland's notional deficit ballooned in the latest year following a slump in oil and gas revenues.

It came ahead of the expected publication next month of the final version of the Scottish Government's energy strategy following attacks on the draft released by Nicola Sturgeon last year after long delays.

The GERS report showed total public expenditure in Scotland exceeded revenues by £22.7 billion in 2023-24, compared with £18bn in the preceding year. The deficit increased to the equivalent of 10.4% of total economic output in Scotland in the latest year, from 8.4%.

The UK deficit fell to 4.5% of gross domestic product, from 5%.

The announcement noted the increase in Scotland's deficit came after a £4bn fall in the share of North Sea revenues attributable to the country. This followed a drop in oil and gas prices from the peaks reached in the aftermath of Russia’s full scale invasion of Ukraine.

READ MORE: Green energy output slump poses challenge for SNP Government

However, finance secretary Shona Robison chose to put a positive spin on the numbers.

“I welcome the fact that Scotland’s revenues grew last year, with those generated onshore growing faster than in the rest of the UK, thanks in part to our progressive approach to tax and the revenue from renewable energy,” she declared.

The comments appear intended to suggest that the rise in revenues was due to the enthusiasm the Scottish Government has shown for the development of windfarms and the like. It has claimed that Scotland can become a global leader in the renewables industry.........

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