He’s the MP trying to get the UK to have a sovereign wealth fund. He and I were asked for 160 words each by City AM:
The only reason to have a Sovereign Wealth Fund is to keep money out of the domestic economy. Norway’s fund is there to stop the torrent of oil money from driving up the exchange rate to the point where the rest of the economy is throttled.
So a wealth fund to invest in British infrastructure is ridiculous – quite apart from the fact that we run a trade deficit and thus aren’t about to suffer from that Dutch Disease the Norwegians are avoiding.