– We have unrest around us in the world, we have unpredictability, but then politics must be predictable. What we saw in 2022 was too much unpredictability, especially around tax introductions that came completely out of the blue. This is what NHO chief Ole Erik Almlid says to news. Tomorrow he gathers a troubled business community for NHO’s annual conference in Oslo Spektrum. This year, the government is increasing the tax burden on business by over NOK 40 billion. It has scared many people, and also slowed down business, says Almlid. – Unpredictability is built into business. We need predictability and the long term. NHO chief Ole Erik Almlid fears lost jobs and businesses. Photo: Terje Pedersen After the tax changes came, NHO saw that several foreign investors disappeared from Norway. At the same time, Norwegian investors are lagging behind, says Almlid. – This can mean lost jobs and lost businesses. And that may mean that investments come elsewhere than in Norway. It is bad news when we are trying to build the business life of the future. – Completely unheard of in a capital market Investment director Gaute Eie at Eika Kapitalforvaltning says that his contacts abroad were surprised when the government suddenly introduced a “salmon tax”. He himself calls it “unheard of in a capital market”. – It’s like we read about in the old days, that Russia just took the money. And you laughed that you were so stupid to be in such a country. Now it is the case that you can almost do the same in Norway. Investment director Gaute Eie at Eika Kapitalforvaltning. Photo: Jarl Rehn-Erichsen / NTB – This came overnight. There was no possibility of understanding that it was actually going to happen. In a professional stock market, such things should not happen, he adds. Industry Minister Jan Christian Vestre (Ap) emphasizes that the ground rent tax on aquaculture has been thoroughly investigated and publicly debated over several years. – The Minister of Finance has been clear that the actors can give their input in the open and democratic consultation process. We are going to land this in a safe and good way that contributes to continued growth in our fantastic aquaculture industry, says Vestre to news. – Drawing parallels with the Soviet Union therefore seems to me to be a bit frivolous. Minister of Industry Jan Christian Vestre (Ap). Photo: Javad Parsa / NTB – Fair tax policy He agrees that predictability is important, and is therefore keeping corporation tax unchanged at 22 per cent. – As we announced well before the election, wealth tax has increased, but it is still lower than under the previous red-green government. The fact that we collect some of the profits of two very, very large and profitable industries for the joint fund is therefore no obstacle to growth. On the contrary, it ensures that we do not have to set up corporation tax and that we do not risk the interest rate getting out of control. Vestre believes that it protects the wider business community and particularly benefits small and medium-sized companies. – It is a fair tax policy in practice. Defends the tax measure – There are some parts of business that have made a lot of money, such as the power industry. And they are the ones who have had the biggest change in their taxation, says Finance Minister Trygve Slagsvold Vedum (Sp) to news. He also emphasizes that the Norwegian economy is doing better than expected. And points out that growth picked up at the end of last year. – So there was higher growth at the end of last year than was thought earlier in the year. And the unemployment figures are at record lows, he adds. Finance Minister Trygve Slagsvold Vedum (Sp) defends the government’s tax measures. He is most concerned with getting control of price growth. Photo: Fredrik Varfjell / NTB What causes the finance minister a headache, however, is the high price increase. It affects both companies and individuals. – That is why it is so important that we take steps to manage to bring down the price increase. – But are the increased taxes for the business sector a move to curb price inflation? – It was a move so that those who have profited the most from the really high prices, i.e. the power companies, had to pick up part of the bill, says Vedum. Worried about his company Managing director Øystein Back of the electronics company Axxe says that the tax increases make him worried. – We have a fairly high salary level in Norway, and when the employer’s tax and the tax on working capital are so high, it becomes difficult to compete with other countries. Øystein Beck, general manager of the electronics company Axxe in Halden. Photo: Axxe His company, with 55 employees, produces electronic products from its own factory in Halden. The money he now has to pay in increased taxes, he would rather invest in the company. – For me, it is a question of what are fair and correct taxes with a view to maintaining jobs and expertise in Norway, says Back. The electronics company Axxe in Halden. Photo: Axxe When Vedum was asked what he would say to Back and other companies in the same situation, he replied as follows: – That it is extremely important that we now manage to get control of the price increase that challenges both individual companies and working people. That is the most important thing. And that corporate taxation is fixed at 22 percent.
ttn-69
Unrest among companies – NHO against the government – news Norway – Overview of news from different parts of the country
