Scotland must be the only country in the world that has struck oil and become poorer.
In this video Max Keiser explains how Thatcher used Scotland's sovereign oil wealth to fund low taxes and interest rates to start the housing boom and to close down industries and pay redundancy to thousands of workers. The 1980's gave the UK the best chance of saving for the future with a potential £480Bn in oil wealth. The oil was in full flow from the North Sea but was just wasted. Norway now has an £800Bn sovereign wealth fund from their oil sales. We've got zilch and the country is bankrupt. So much for 'saving' the country. The free market laissez faire new Right Thatcherite approach has seen the spivs fill their boots and then come looking for the taxpayer to bail them out later to the tune of £1trillion and rising. Doesn't sound like 'saving Britain' to me.
Scotland fared the worst under Thatcherism. 250,000 were thrown on the scrap heap during her reign.
The Daily Record has some of the jobs and industries lost..
Leyland lorry factory, Bathgate, closed 1986. 1800 jobs lost.
Plessey Electronics, Bathgate. Decision to close in 1982 prompted occupation by 220 workers, culminating in takeover that saved just 62 jobs.
Linwood car plant, Renfrewshire, closed 1981. 4800 jobs lost.
Ravenscraig steelworks, wounded after Thatcher's privatisation of the industry. Closed 1992. 1200 jobs lost.
Shipbuilding. Various Clyde yards wound down or closed such as Scott Lithgow in Greenock in 1988
Mining. From the 1984 strike onwards, steady closure of pits. 15 reduced to just two during Thatcher's reign.
Lee Jeans staff in Greenock forced to occupy plant to prevent closure, ultimately a management buy-out saved 140 jobs.
Most folk will know of other factory closures that are not mentioned. Timex in Dundee for instance. I can remember growing up in Dundee in the 60's and 70's and being amazed at the number of factories there were. Driving along the main dual carriageway through the city we had..Salvesen's, Veeder Root, Valentine's Greetings cards, NCR, 2 Timex factories, Keillers jam and probably more that I can't remember. There are a couple of call centres now and lots of shops although I've heard that NCR have maintained a key number of their top engineers and designers. DC Thomson are still there of course.
'Better Together' ? Aye right.
Scotland must remain vigilant. There's a new kid on the block.....