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SNP demands £5bn oil and gas cash is spent on Acorn carbon capture after its grant is turned into loans

SNP demands £5bn oil and gas cash is spent on Acorn carbon capture after its grant is turned into loans

SNP Westminster leader Dave Doogan is demanding Labour redirect £5.1 billion in forecast North Sea oil and gas tax receipts to save Scotland's Acorn carbon capture project in Aberdeenshire. Chancellor John Healey axed a £200 million direct grant in the Budget, replacing it with loans or an equity stake, triggering fury in Holyrood. First Minister John Swinney called the move a "betrayal" and said he was "deeply concerned" about Scotland's industrial future.

Doogan said 'Westminster has robbed our trillion pound future' by syphoning £5bn to English investments.

The Office for Budget Responsibility forecasts £5.1bn in oil and gas revenue for 2026-27, though the figure includes unapproved fields such as Rosebank.

Shell and Storegga are among the partners behind Acorn, which SNP says is Scotland's principal route to a net-zero North Sea economy.

MoreLBCUse £5bn oil and gas revenues to fund Acorn carbon capture – SNPYahoo News UKUse £5 billion oil and gas revenues to fund Acorn carbon capture, SNP urgeThe ScotsmanExclusive: Use £5bn oil and gas revenue to fund Acorn carbon capture project, says SNP - The ScotsmanBournemouth EchoUse £5bn oil and gas revenues to fund Acorn carbon capture – SNP - Bournemouth Echo
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