The Mudcat Café TM
Thread #153811   Message #3607380
Posted By: Teribus
05-Mar-14 - 08:07 AM
Thread Name: BS: Scotless
Subject: RE: BS: Scotless
Anonymous Guest:

Norway has the Sovereign wealth fund that it has because it does not use its revenues from its offshore oil & gas industry (Taxes yes, revenues no). Norway with its ~5 million people do not need the oil and gas they produce it already had the cheapest generated electricity on the planet.

Norwegian Sovereign Wealth Fund derives from two sources oil revenues which are invested internationally and excess national insurance revenues the money from which is invested domestically inside Norway in Norwegian companies and technology.

Salmond and the SNP keep dangling the prospect of Scotland being like Norway yet he signally fails to tell the electorate of Scotland what they would have to sign up to for Scotland to be like Norway:

38% Basic rate of tax
Medicine paid for at point of supply
End of free prescriptions
Dental care paid for at point of supply
End of tuition fee free education
Student loans that do actually have to be paid off
Compulsory formal identification and ID
Compulsory universal conscription

Norwegians basically have a work ethic not a benefits culture. If they want something then they pay for it today, they do not borrow in the hope and expectation that their children or grandchildren will pay their debts off for them.

Any time Salmond and SNP are asked how something will be paid for the answer always comes back - revenue from Scotland's Oil - well pal if you are relying on that to fund your freebies you cannot at the same time be saving it to create a sovereign wealth fund - True??