# Hands off! Dithering Swinney’s North Sea cash grab is rejected

- URL: https://talkfuse.com/story/hands-off-dithering-swinneys-north-sea-cash-grab-is-rejected/
- Published: 2026-10-22T19:34:41+00:00
- Updated: 2026-10-22T19:43:20+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/news/article-16230997/Hands-Dithering-Swinneys-North-Sea-cash-grab-rejected.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: UK, World

## Key points

- Labour rejected Swinney’s call to ring-fence the fund for Scotland.
- The fund starts with £2 billion for UK-wide low-carbon investment.
- The SNP has yet to clarify its stance on new North Sea drilling.

## Summary

Labour ministers have rejected First Minister John Swinney’s request to restrict a proposed energy wealth fund to projects in Scotland. The fund is intended to use North Sea oil and gas revenues to support renewables and other low-carbon projects across the UK, while the dispute has sharpened questions about the SNP’s position on new drilling.

Swinney made his request after approval of the Jackdaw gas project east of Aberdeen, arguing that Scotland had not fully benefited from its energy resources and that investment should prioritise offshore renewables in the North-East. The fund has an initial £2 billion earmarked, with further funding expected from future North Sea revenues. Scottish and UK Labour figures criticised the SNP for not stating clearly whether it supports projects such as Jackdaw and Rosebank; the Scottish Government’s energy strategy is not expected until next year.

---
Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.