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Kate Forbes blames child poverty on Scotland not keeping North Sea oil money

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In a hustings where energy featured heavily, fellow leadership candidate Kate Forbes suggested Scotland should set up its own Norwegian-style sovereign wealth fund formed from the proceeds from renewable energy.

Ms Forbes said Scotland was “one of the few countries that found oil and got poorer”, adding: “Scotland’s potential when it comes to renewables is enormous, we have got such a significant percentage of the world’s access to all forms of renewables.”

She stressed the importance of money raised from energy generation was put back into Scotland.

“We already heard talk about Norway’s sovereign wealth fund, it’s too late for us to have a sovereign wealth fund when it comes to oil, but it’s not too late when it comes to renewables,” she said.

“We need to ensure that revenue is being generated and re-invested in our National Health Service and in our public services.”


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