The magic money rigs
by Stuart Campbell
(Wings Over Scotland, August 10, 2017)
“RTS” is the UK government’s – or more precisely HMRC’s – Regional Trade Statistics accounts, which seek to disaggregate the UK economy to see how much money is generated in which areas. When independence supporters first discovered that the large bulk of North Sea oil revenues were attributed in the stats to an “unknown region” rather than to Scotland – Wings readers knew about it at least as early as July 2014 – Unionists went into overdrive to downplay and obfuscate the fact.
But as of this year, with the independence referendum safely long in the past, the UK government has very quietly altered the methodology of RTS to now accurately credit oil revenues to where they belong.