‘An independent Scotland will provide the fiscal and regulatory stability needed’

The tragic loss of life last year in the helicopter crash off Sumburgh is a stark reminder to us all of the fact that the health and safety of those who work offshore is t he paramount consideration of the industry.

Over the last two-and half-years, from meetings with over 100 companies, I have sought to understand the oil and gas industry.

Our strategy was based on lengthy discussions and was led by industry, as it should be.

As set out in the white paper, Scotland’s Future, our government is committed to ensuring that the competitive advantages which we have are retained and enhanced so we realise the opportunities that remain in the North Sea and that we play a central role in the development of new opportunities in othermarkets.

There’s no dispute that the oil and gas industry is facing a challenging future with skills and production efficiencies being key issues, but we are confident and determined that, working with industry, we can tackle these challenges.

We already have a global

“No increase in the overall tax burden”

reputation for excellence but in order for us to continue to flourish, we need fiscal and regulatory stability.

Un l i ke successive Westminster governments, the Scottish Government understands t hat an i ndependent Scotland should provide industry with the necessary fiscal and regulatory stability and predictability for it to innovate and thrive in a globally competitive environment.

There must be no increase in the overall tax burden. We must use tax- ation as a lever to maximise recovery, the tax hike in 2011shockedthe sectorand undermined investor confidence.

We have shown just how committed we are to collaborating with the industry by setting out the key principles we believe should underpin the policy framework in our paper, Maximising the Return from Oil and Gas in an Independent Scotland.

Sir Ian Wood’s interim report further established the need for a new regulatory body and outlined that by addressing the challenges facing the industry and harnessing the oppor- tunities, enormous benefits can be reaped by the industry and in tax revenues.

Scotland has been blessed with unrivalled natural resources, there are around 24billion barrels of recoverable oil and gas remaining in the North Sea, with a potential wholesale value of up to £1.5trillion.

The wealth it brings, if properly managed, can make a real difference to the people of Scotland, with all communities around the country benefiting from them.

FergusEwing is the Scottish Government’s minister for energy and MSP for Inverness and Nairn.

Energy minister Fergus Ewing said the Scottish Government was committed to ensuring that the industry’s competitive advantages were kept and enhanced