The Scotsman - Politics - Sheridan seeks to lubricate economy with oil

TOMMY Sheridan, the convener of the Scottish Socialist Party, unveiled plans yesterday to take public ownership of North Sea oil.

Mr Sheridan said the money raised would be used to wage war on poverty and improve public services.

He said: "Every day, wealthy shareholders plunder £30 million from North Sea oil profits while the five million people of Scotland receive just £1.5 million. In a democratic socialist Scotland, the £13 billion annual reserves from North Sea oil would be used to transform Scotland’s public services and lift out of poverty hundreds of thousands of low-paid workers, lone parents and students."