Seems The Norweigans Like A Long Term Punt On The Uk>

[youngmafbog]

Perhaps the Chicken licken view of some is not quite correct. Will they ever see past the acorn?

https://www.dailymail.co.uk/news/article-6754319/Worlds-biggest-wealth-fund-piles-billions-pounds-Britain.html

[Gromit]

The Norwegian Investment fund was set up from money from North Sea oil. When Norway was investing for the future, successive British Governments were squandering the revenues.

So when the Government had to find money to bail out the banks, Norway was happy to loan us £6Billion.

[cassa333]

It parliment you need to convince.

[jno]

the Norwegians are prepared to wait 30 years. Let's hope Britons are equally patient. (Though if they were, Britain would own as much of the world as the Norwegians do now - 1.4% of the world equities is pretty impressive.)

[youngmafbog]

Yes Gromit. Not sure of the relevancy of your post to my question.

30 years is not that long in the grand scheme of things jno.

[jno]

it's extremely long for the UK stock market, where short-termism is always popular; what British company has a 30-year plan? The Norwegians may be ready to sit on their hands for a generation but I'm less confident that Britons will do the same when things turn sour.

[ToraToraTora]

Gromit is correct, Norway invested 15% of it's return from North sea oil from day 1, we did not, governments of all sides have taken the dosh as it comes in and spent it on what came up. I assume that Norway never had calls on that cash, lucky them. I wish that we did not have to live hanbd to mouth on what is coming in but that is what happens when you operate as we do. I have nothing but admiration for the way Norway conducts its affairs but how long before some hard left shower get their hands on the coffers and sipps it up against the wall.

[steg]

//I assume that Norway never had calls on that cash, lucky them. //

I think they used some of the money a couple years back ( about 6or7 billion), probably to do with when the oil price fell

[ToraToraTora]

yes steg well it's always in the bin when they need it eh?

[steg]

Aye it is, but that’s what it’s for so good on them

and yip if only