[Land-and-Labor] Norwegian comedy

Lev Lafayette lev.lafayette at isocracy.org
Tue Dec 18 16:55:00 AEDT 2018


In the 1990s, Norway set up the equivalent of what would have been "the
mining tax". You know, the public accumulation of a wealth fund to capture
resource-based superprofits. The Mineral Council of Australia objected to
the idea and put aside $100 million war chest in negative advertising, and
forced the Gillard government to capitulate after spending only $22
million. Australia, as a result, has lost a staggering $90 billion dollars
in revenue.

Norway on the other hand, has gone from strength to strength, to the point
that they now have over a million dollars in their wealth fund for every
person in the country. Prudently invested, they have almost 1.4% of the
total world's investment. Not bad for a sliver of a country with a
population of 5 million.

These days, their biggest political head-ache is that they have TOO MUCH
MONEY - whilst the rest of the world blinks incredulity at such a
prospect. So they've done a comedy show about managing this enormous slush
fund.

https://www.bloomberg.com/news/articles/2018-12-16/what-s-so-funny-about-1-trillion-the-norwegians-who-manage-it

All because they taxed their resouce companies appropriately. And we didn't.


-- 
Lev Lafayette, BA (Hons), GradCertTerAdEd (Murdoch), GradCertPM, MBA (Tech
Mngmnt) (Chifley)
mobile:  0432 255 208
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