Tim
97.2K posts

Tim
@Tim47222
Work in retail. Rail enthusiast. Long suffering #EFC














🇳🇴 Norway took its oil wealth and built the world’s largest sovereign wealth fund — investing in pensions, healthcare, and the future. 🇬🇧 Britain sold ours off in the 1980s, handed control to private corporations, and spent the revenues on short-term tax cuts. 🔴 Today, Norway has one of the highest standards of living in the world — while the UK is stuck managing decline. 🔵 Thatcher’s Conservative govt was responsible for handing over control of North Sea oil to private corporations, dismantling public ownership, and prioritising free-market policies over long-term public wealth. Thatcher forfeited long-term public income from oil in favour of short-term privatisation proceeds and tax cuts. 🔴 Norway, by contrast, retained public control and built up the $1.6 trillion Norwegian Sovereign Wealth Fund from its oil wealth. The UK spent most of its oil revenues on general government spending during the 1980s, with little legacy investment.



Britain has paid Norway over £100 billion for gas since 2021. For gas they’re drilling in the North Sea, the same sea Ed Miliband has banned new drilling in on the British side. Madness.













