Unlike Australia, Norway has kept their resource extraction wealth - TopicsExpress

Unlike Australia, Norway has kept their resource extraction wealth in their control without it fattening up a capitalist exploiting of finite mineral resources. Norway has a 78% tax on oil and gas revenues – unlike Australia, where the effective tax rate is a mere 13%. $60bn from gas sales to continental Europe is annually deposited in the Norwegian sovereign wealth fund. The fund has 5.11 trillion Krone (AU$930bn), or twice Norway’s GDP.

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