Mr. Svein Gjedrem:

Many elements of our welfare state would have to be discontinued if we did not have this fund. For example, we basically have a pay-as-you-go pension system. The expenditures would have been difficult to manage without having access to this money in the long term. This has been important for our welfare state. The fund has also enabled the government to invest more in infrastructure in the last ten years or so than would otherwise have been possible. It is important to say that it has been possible to do this sustainably so the economy in general is not overheating due to these investments. Financing is done in a responsible way. Of course, this income, which is 10% of GDP, is very important. That is also the reason I think the fund will not be reduced in the future. I do not think any finance minister would be the one who started to diminish this fund that finances 20% of government expenditure. When Ireland has its fund in place, I think the country will love it.