“Norway is the world leader when it comes to the take up of electric cars, which last year accounted for nine out of 10 new vehicles sold in the country.”
That’s a load of bullshit, how is money going to a pension fund making the people richer when no money was withdrawn from it until 2016 even though it has existed since 1990?
They have a flat taxation rate of 22% with sales taxes at 25%. Compare that to the US with billionaires paying no taxes at all…
Money is taken from the sovreign wealth fund every year. However, it is not taken from the savings, but from interest. A maximum of 3% of the funds value can enter the budget, as decided by the budgetary rule.
Oil also makes people richer because it provides industry and jobs.
However, the reason people can afford electric vehicles is that they are excempt from value-added tax. VAT on new cars is quite high in Norway, so if this shaves $40 000 off the price of a new car it obviously makes them more lucrative by comparison.
It’s a political decision, it’s not that all Norwegians walk around with fuck you money and buy the most expensive cars on the market just for fun.
Interest they get from their investments in companies like Solvay, Coca-Cola and Pfizer.
Not sure what point you’re making, but it is indeed invested in a bunch of companies.
It’s all listed here. Microsoft, Apple, Nvidia, Google/Alphabet, Amazon, and Meta are the biggest ones. Nestle, Exxon, Shell, UnitedHealth, and Tesla are some other good ones if you’re looking for evil companies.
