As the holiday season approaches, a time for reflection and future aspirations, Norway finds itself facing a sobering reality: 2025 may be remembered as the year many citizens chose to seek opportunities beyond its borders.
In a landscape where economic potential dictates movement, capital flows to where it thrives best. The Nordic region has long been marked by healthy competition among its countries, a dynamic that has spurred development and innovation. However, Norway seems to be losing this competitive edge, raising a critical question: what kind of nation do we want to inhabit in 2026?
Sweden is pioneering robust innovation ecosystems, Denmark is emerging as a leader in the green economy, and Finland is committing substantial resources to education and digital advancement. Meanwhile, Norway finds itself in a precarious position—not because we lead, but due to an overreliance on oil revenues that has stifled essential reforms. While our oil fund has undeniably bolstered our wealth, it has also fostered a political culture where excessive spending is the norm. As our neighbors eliminate wealth taxes to attract capital, Norway continues to drive entrepreneurs away.
The fortunes of Sweden do not solely rise from flawless governance; they are also buoyed by the missteps of Norway. Presently, the Norwegian government has doubled taxes on ownership. Business owners are forced to withdraw funds from their companies annually to pay a wealth tax on assets tied up in machinery, inventory, and properties—even in years when their enterprises are operating at a loss. In stark contrast, investors residing in New York, Shanghai, and Stockholm enjoy exemptions from this tax. While other nations are bolstering their local entrepreneurs, we are inadvertently placing our own at a disadvantage. This environment has led not only to Swedish billionaires returning home but has also prompted wealthy Norwegians to consider relocation to Sweden.
As we step into 2026, let Norway’s New Year’s resolution be a commitment to leveling the playing field for our domestic business owners. It’s time to abolish the wealth tax before more companies exit our shores.
WHAT DO YOU THINK? We welcome your thoughts.
Share your views with us at nyhet@framtidinord.no