Comments on: Government spending and tax levels

Government spending and tax levels

russilwvong — Fri, 30 May 2008 12:18:50 -0800

Want to know how government spending and taxation levels have gone up or down over the last 20 years, and how they compare with other countries? The Organization for Economic Cooperation and Development has a handy set of tables (Excel, HTML-ized by Google): total spending, total revenues, fiscal surplus or deficit (Norway's surplus is 17% of GDP). Part of the statistical tables for the semi-annual OECD Outlook.

By: GuyZero

GuyZero — Fri, 30 May 2008 14:28:02 -0800

I loves me some numbers. If only you could have written the post in a dry, detached, slightly-less-than-serious tone while still being very straitlaced you might have the beginnings of an excellent magazine.

By: Mr. President Dr. Steve Elvis America

Mr. President Dr. Steve Elvis America — Fri, 30 May 2008 18:57:06 -0800

Why does Norway consistently show such a large surplus? I suppose I don't understand the policy.

By: blue_beetle

blue_beetle — Fri, 30 May 2008 19:25:56 -0800

Mr. President: They reinvest it, and provide social services with the extra interest income, reducing the tax burden while increasing benefits over the long term.

By: Mr. President Dr. Steve Elvis America

Mr. President Dr. Steve Elvis America — Fri, 30 May 2008 19:56:05 -0800

Mr. President: They reinvest it, and provide social services with the extra interest income, reducing the tax burden while increasing benefits over the long term. Is the surplus mostly from taxes on oil, then? The post implied that, but the Wikipedia didn't really make it clear. That would actually make a lot of sense--taxing the depletion of a natural resource and reinvesting the proceeds seems like a decent way to derive a long-term benefit from it. The policy justification is a little less clear when applied to tax proceeds from non-depleting activities, but I guess Norway believes they can invest at a rate higher than the growth in Norwegian GDP (well, tax base, really), and Norwegians don't object to a little intergenerational wealth transfer.

By: flippant

flippant — Sat, 31 May 2008 01:19:45 -0800

A few days ago, I read an article that said one in every hundred stock on the European markets is owned by the "~~Norwegian~~ Oil Fund" (popular name for the investment fund up here). We live comfortably enough without needing to spend it as we make it. My pension's coming out of that fund ;)

By: romanb

romanb — Sat, 31 May 2008 01:49:29 -0800

'All but 4 per cent of Norway's oil earnings must be placed in the fund for savings; nothing can be withdrawn from the fund until the oil is gone, decades from now; and – most crucially – absolutely none of the money can be invested inside Norway. Mr. Slyngstad and his traders spend their days funnelling the oil wealth into foreign stocks and bonds, so none of it will touch the Norwegian economy.' Frugal Norway saves for life after the boom