The Labor Party will pursue an active, professional and long-term ownership policy, in which the state and private individuals cooperate to create profitable jobs and new business opportunities. This route was strongly opposed by the Minister of Trade and Industry Iselin Nybø. But when the Liberal Party proposes to provide more state-owned capital to the market, what does Nebel want to sell?
Long talk in the last post, Iselin Nybø commented on what I think is a clear and good business policy for the future. There is no doubt that the Minister of Trade and Industry wants other things besides me. Where I believe that the correct use of state-owned capital and ownership is a tool for creating new industries, the government clearly believes that state-owned is a particularly bad owner.
In his response Nybø wrote, for example: «State ownership is usually not the most effective way to solve market failures. State ownership is not a particularly effective method of creating value creation work.»
This article is right The position of Minister of Trade and Industry Iselin Nybø (V)
I naturally agree State ownership is usually not the solution to market failures, and most work in the commercial sector will continue to be carried out in private companies in the future. However, in the next few years, we must ensure that Norway wins the competition to obtain employment opportunities and create value from industries such as hydrogen energy, offshore wind energy and batteries. In the early stages of the development of these industries, the state can play a role by ensuring the commercialization and large-scale deployment of technology in Norway. This, together with stronger policy instruments, is to become an active partner and create the framework conditions that make us attractive and competitive for investment.
Please also read Terje Aasland’s previous article: Future business policy
Nibel is not polite to his criticism here: «Other owners, especially those on the stock exchange (which invests a lot of pension funds), have a horizon at least as long as the state. More political control and more political considerations make viewpoints the next choice, not eternal. Why do other owners lose their jobs and the economy declines?»
However, it must be a hot ball here. Long-term owners such as pension funds seek low-risk and safe returns, and therefore usually invest in mature technology and infrastructure. The industry in the future is by no means mature. Because of this, the state can create markets through public procurement, regulations, subsidies, and especially state capital. Therefore, the long-term view that the state can contribute is significantly different from this type of actor. A good and professional ownership tracking organization can be used to resolve Nybø’s concerns about ownership as election meat.
Iselin Nybø first wrote: back to the Future
I do not advocate state capital It is the complete answer to how we create new industries, but we also realize that this is part of it. Government capital can ensure the value created by the community, while attracting professionals and private investors. Ironically, the Liberal Party’s Program Committee apparently thinks so too. The draft plan proposes that public capital should flow into private funds and should flow into small businesses. Nibel had previously expressed his happiness for the Liberal Party, thinking that Nissens should have 20 billion in total assets.
When she arrived at the same time Warning against using state capital, I must have missed something. Because although the right wing has many secondary values to sell the community, I did not see any information about what they intend to sell in the Liberal Party’s plan. What does Nibel want to sell? If she does not have a sales plan, it means that the policies of the Liberal Party have led to an increase in state ownership. Just like what I advocate.
Maybe the Minister of Trade and Industry Actually realized what many others have realized: government capital is a good tool for creating growth and development. In that case, it is regrettable that the Minister of Trade and Industry will not have a more positive attitude towards how we can use our powerful state-owned capital and ownership tools to create more jobs and new business opportunities in Norway.