Jan 12, 2014

Independent Scotland to come with a citizen dividend fund?

Scotland Oil Fund
"Yes Scotland" is proposing a Scotland oil fund following the example of Norway's sovereign wealth fund.

"Norway’s oil fund has grown so large that every Norwegian is now theoretically a millionaire, it has been revealed. There is still time for Scotland to follow its example."

"Had Scotland started an energy fund in the 1980s, we could now have had national assets worth £100 billion.
With a Yes, we can create a rainy day fund that gives the people of Scotland financial security well into the future."
It is great that people from all over the world are now interested in setting up sovereign wealth fund for their people. The key words are "for the people." They should look at the Alaska Permanent Fund and see how that fund is protected for the people. Indeed, the Alaska people had successfully defended their dividend fund from "their" politicians. There are many funds that have zero protection for the people. Their politicians are free to squander it in any way they like. 

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