Norway is a country with a slightly smaller population than Scotland, with more difficult territory and climate. It discovered oil in its territorial waters at the same time as Scotland, and in broadly similar quantities. While Scotland’s standard of living is in freefall, like that of the rest of the UK, due to Tory austerity cuts brought about in large part by Labour’s spectacular failure to tackle inequality in “boom” times, this is how our neighbours across the North Sea are doing: “Norway, which goes to the polls tomorrow, faces a strange problem: too much money. The Nordic country, an island of prosperity in ailing Europe, faces an embarrassment of riches as it tries to figure out how to spend its huge pile of oil money without damaging the economy in the long run.” Better Together? The best of both worlds? Yeah, right.
Posted on: Mon, 09 Sep 2013 12:33:30 +0000
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