True, but the point is that no matter what the UK did it could never have been in the same position as Norway. Simply too many people and not enough oil.
Realistically even if they managed to accumulate a significant amount of money there would have been a lot of societal pressure to spend all of that during various economic downturns. How could a government that’s sitting on a fat pile of money ever justify cutting spending on the NHS or social services?
Realistically even if they managed to accumulate a significant amount of money there would have been a lot of societal pressure to spend all of that during various economic downturns. How could a government that’s sitting on a fat pile of money ever justify cutting spending on the NHS or social services?