Scotland's economy to be hit by oil price collapse, says thinktank

Institute for Fiscal Studies report suggests Scotland's deficit will rise to 13bn, as SNP launches campaign for Holyrood election

Scotland's deficit will jump to nearly 13bn by the end of this decade after the collapse in oil prices, according to the Institute for Fiscal Studies.

The IFS released its updated assessment as Nicola Sturgeon, the Scottish National party leader, launched her party's campaign for May's Holyrood election, urging its 129 candidates to campaign harder than ever to secure a second successive majority government.

Related: Independent Scotland would be facing 10bn black hole, says IFS