First The Australians, Now The Norwegians

First it was Australia, scrapping the carbon tax, kicking the "green" government, and electing a pragmatic realist.

Now it's the Norwegian's turn. The FT is reporting:

The results mark a decisive rightward shift in the Nordic country of 5m inhabitants where more than a decade of oil wealth is raising questions of how to spend that money.

“This is a historical result. It is the first time in 24 years that we have a Conservative prime minister,” Jan Tore Sanner, deputy leader of the Conservatives, told the Financial Times.

You might recall that the liberal Norwegian government wanted open their "Legacy Fund" spigot. As noted earlier, I have no earthly idea why would need all that money. 

Labor this year proposed spending 3.3 percent of the fund to plug budget deficits, staying within the 4 percent rule for a fourth year. Still, with the fund quadrupling in size since the middle of last decade, that represents a 19 percent increase in government spending versus 2012.

The government estimates the fund will grow about 50 percent by 2020.