FRP Stipulates Fee Coverage Must Come from Tax Settlements
The Progress Party (FRP) maintains that any fees implemented must be balanced by an adequate tax settlement. If taxes are not factored into the calculation, the party argues, there can be no tax settlement for citizens.
“There needs to be an overall reduction in taxes and duties as a result of any tax settlement. It is absolutely unacceptable for fee increases to be offset by tax reductions,” said Hans Andreas Limi, the FRP’s spokesperson on financial policy, during a conversation with Nettavisen.
In a notable move, the government has proposed significant increases in fuel taxes: an 80 øre rise for petrol and 117 øre for diesel, starting January 1. Moreover, the CO2 tax on these fuels is set to rise dramatically, from NOK 1,405 to an astonishing NOK 3,400, with further adjustments for inflation expected until 2035, according to reports.
Critiquing these changes, Limi remarked, “It’s clear that it’s been quite some time since Jens Stoltenberg has purchased or driven his own car,” referring to the finance minister’s apparent disconnect from everyday realities.
Andreassen Finds Value in Bech Holte’s Proposals
In the ever-evolving landscape of Norway’s economic policy, Harald Magnus Andreassen of SB1 Markets has expressed a cautious optimism regarding the ideas put forth by author and economist Martin Bech Holte in his recent book, Alternative State Budget. While Andreassen appreciates several of Bech Holte’s proposals, he is far from a full endorsement.
“The key takeaway is that he has ventured much deeper into proposed changes in economic policy, especially considering the precarious position Norway finds itself in. However, I have my reservations about the impact he will achieve on job offerings,” he cautioned.
Andreassen particularly noted Bech Holte’s exploration of subsidies and the shift in the tax system from income and wealth to property taxation. “The taxation of capital and ownership has been excessive in combining wealth tax with dividend tax. Many are aware of this, but I find his proposal quite inventive. He aims to tax properties significantly, which could result in a sizable tax burden for the wealthy,” Andreassen remarked.
Conservative Party Targets Innovation Norway in Budget Cuts
The Conservative Party (Høyre) has made waves with its proposed alternative state budget, which includes a staggering cut of NOK 1.42 billion in funding for Innovation Norway. When confronted by DN about the rationale behind this move, party spokesperson Nikolai Astrup clarified their stance.
“No, we believe Norway still needs an Innovation Norway, but it requires reform. Currently, they are spread too thin, managing too many clients and projects. Entrepreneurs should not have to spend excessive time searching for suitable schemes,” he explained.
LO Leader Sounds Alarm on Seabed Mineral Extraction
The debate surrounding seabed mineral extraction is intensifying amid budget negotiations, with LO leader Kine Asper Vistnes, Offshore Norway, and industry representatives expressing their apprehensions about a potential moratorium on such activities.
“LO expects the negotiating parties to recognize that we are at a critical juncture for both Norway and Europe. The global demand for oil, gas, and minerals will remain significant for the foreseeable future. Now is not the time to hinder Norwegian industrial progress,” Asper Vistnes told DN.
Center Party Advocates for Increased Electricity Tax on Data Centers
In a bid for fairness, the Center Party has proposed raising the electricity tax for data centers by 10 øre per kilowatt-hour. This initiative garners support from both the Socialist Left Party and the Red Party.
“We believe that it is both right and just for data centers to provide greater value to society, especially as they capitalize on our shared natural resources,” commented SP’s energy policy spokesperson, Maren Grøthe, to E24.
A report from the Norwegian Water Resources and Energy Directorate (NVE) reveals that electricity consumption by data centers surged by 50% in just one year. Comparatively, these centers consumed 1.4 terawatt-hours in the first half of 2025, up from 0.9 terawatt-hours during the same period the previous year.
Calls for Improved Fraud Prevention in Tax Authority
As discussions around fiscal responsibility continue, Tax Director Nina Schancke Funnemark’s justifications for inadequate oversight within the Swedish Tax Agency are falling short. Reports in DN highlight the rising tide of VAT fraud—an alarming trend that siphons billions from the treasury.
“It’s hard to grasp why the Norwegian Tax Agency hasn’t ramped up its checks in sectors known for high vulnerability to fraud. Even more perplexing is the apparent oversight of glaring red flags during the checks that are conducted,” DN stated.
Labor Party Faces Backlash Over Proposed Tax Increases
In a pointed critique, Arve Juritzen of the Oslo Conservative Party noted that had the Labor Party prevailed in the municipal elections two years ago, Oslo residents would be facing an additional NOK 671 million in housing costs next year.
Juritzen highlighted that the proposed minimum deduction of NOK four million would impose property taxes on anyone owning a home valued above NOK 5.75 million. “As is well known, the right-wing’s ambition is to eliminate property tax on homes entirely. Presently, two-thirds of homeowners in Oslo are exempt from such taxes, which have already been halved in two years. We believe living in Oslo is expensive enough without adding to that burden,” he asserted.
Analysts Caution Against High Oil Exposure
Danske Bank analyst Vidar Lyngvær has issued a stark warning regarding oil investments, with only one buy recommendation for the sector. “Okea is the sole oil company receiving a buy recommendation from us. Meanwhile, we advise caution with Aker BP and Vår Energi, as we doubt their share prices will reach a low point until well into 2026.”
Additionally, Lyngvær recommends selling Equinor stock, citing an overestimation by investors of the company’s potential in showcasing its renewable assets. “The oil market serves as a risk barometer, constantly indicating concerns about the security of oil supply,” he remarked.
Investment Insights: Timing is Everything
Christian Kallevig Arnesen of Finansco believes that investors should look to small companies before the year concludes, rather than waiting for the traditional January effect.
“Each year, analysts compile their series of recommendations for the coming year—the so-called New Year’s rockets, often featuring companies expected to see significant price increases. However, recent trends suggest that the January effect may now be shifting toward December,” Arnesen noted.
He explained that typically, investors sell underperforming shares before the New Year in order to secure tax deductions, a trend he expects to persist.
Equinor CEO Voices Concerns Over Uncertainty
In a candid interview with E24, Equinor’s chief executive expressed his deep concerns about the rampant uncertainty surrounding Norway’s oil and gas exploration.
“I have never seen such overwhelming uncertainty or conflicting opinions in my time in this industry. The very foundations of ongoing projects are being called into question,” said Opedal.
His primary concern is that the regulations impacting Norway’s crucial oil and gas sector may become entangled in budget negotiations.
“The industry must remain open to democratic processes. It’s crucial that discussions on these matters occur transparently rather than in the shadows of budget talks,” he emphasized.
Legal Scrutiny of Asko’s Loyalty Agreements
Recent discussions have surfaced regarding the loyalty agreements imposed by Konsumgruppen, owned by Norgesgruppen’s wholesaler Asko. Legal expert and competition authority scholar Erling Hjelmeng has raised concerns, suggesting that these agreements may fall outside legal parameters.
“Most indicators suggest potential abuse,” he stated.
Competitor NHO Reiseliv Innkjøpkjeden has long been aware of these issues. In a letter to the Competition Authority dating back to 2014, when Asko acquired Konsumgruppen, they articulated apprehensions about Norgesgruppen’s possible market dominance. “If approved, this acquisition could enable Norgesgruppen to gradually take over the large household market,” warned director Morten Karlsen.
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