The Treasury has calculated for the first time how much Britain could have raised by investing proceeds from North Sea oil and gas, concluding that the country might have built an oil fund worth around £1 trillion.
The assessment examines the potential value of placing North Sea revenues into an investment fund rather than using the proceeds as they became available. Its findings set out the scale of wealth the UK could have accumulated through such an approach.
The estimate focuses on income generated from the North Sea and the possible long-term returns from investing it. It is presented as a calculation of what Britain could have built, rather than an existing government fund.
The assessment highlights the significance of decisions made over how the proceeds from the UK’s North Sea resources were used. The supplied information does not include further details about the calculation, including the period covered, the investment assumptions or the precise level of revenue involved.
