Oireachtas Joint and Select Committees

Wednesday, 31 May 2023

Committee on Budgetary Oversight

Sovereign Wealth Funds: Discussion (Resumed)

Mr. Svein Gjedrem:

If a new industry is developed and there is a development whereby access to land or to the sea is limited such that an economic rent is established, I would guess that the government will look into that. We have a kind of special tax, as I mentioned, on oil and gas production, on hydro-energy production and now also on fish farming. There are limits on access to the ocean for fish farming. In all those areas it is relevant, but I think it will be many years before we will see an economic rent from offshore wind farms.