North Sea oil fills Brown’s ‘black hole’

NORTH Sea oil is expected to save Gordon Brown from humiliation today, as he finally admits that mainland Britain is suffering its worst economic growth for at least a decade.

The Chancellor will today concede that the economy is moving at almost half the speed he predicted in his Budget – and give figures showing income from UK tax has fallen short of projections. But buoyant North Sea tax revenues, lifted by the spike in oil prices, are expected to minimise the damage – and save Mr Brown from the need to raise taxes or cut spending.

Scotsman