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The government is raising fuel taxes. But it will still be cheaper to own a car. (Aftenposten)
The government promises a new policy that will cut 6.4 million tonnes of CO₂ by 2030. The plan includes increased fuel costs. But another cut will ensure that most motorists still get better in kroner and øre. The increased fuel taxes must be compensated with a cut in the road insurance tax. – 98 per cent will experience that the costs will not go up, but down, says Finance Minister Trygve Slagsvold Vedum (Sp). They won’t share the full plan until Friday. But in rough terms, it means that more people who have not paid CO₂ tax until now will have to do so in the future, as well as increased use of biofuel and the introduction of new climate requirements. As well as the aforementioned cut in the traffic insurance fee. The sea
Billion blast: The train project in Moss explodes with another six billion (Teknisk Ukeblad)
The train project in Moss has reached a new milestone. Ten kilometers of double track through the city was supposed to cost NOK 6 billion in 2017. Now the price is NOK 25 billion. read more
Budget jump for the Armed Forces: Get an extra 15 billion in 2024 (VG)
The Støre government will spend NOK 15 billion more on defense in the state budget for 2024. Prime Minister Jonas Gahr Støre (Ap) says that we live in a time of destiny, and that this is part of the country’s insurance premium. The sea
The national budget can determine the interest rate peak (Steinar Juel, social economist in Civita) (DN)
A tightening monetary policy combined with an expansive state budget only makes sense if there are no costs associated with such use of the two policy instruments. There are several large costs associated with expansionary fiscal policy combined with the higher interest rate. One of them is that the finances of many families will end in ruin. It is to be hoped that this is a cost the government has emphasized before it put an end to work on the 2024 budget. The sea
NHO expects the last rate hike in December – cut next autumn (NHO)
If things go as NHO believes, there is likely to be a fall in house prices and higher unemployment. The consolation is that the interest rate cut could come as early as September next year. The sea
Warns of rough months on the housing market: – If you price too high, no one will come (DN)
It is likely to be a demanding housing harvest, according to several of the country’s top brokers. – There is a lot of psychology now, says estate agent Marius Husby. The sea
The rental prices skyrocket (Finansavisen)
Recent figures show strong price increases in the rental market compared to last year. Many tenants now pay one extra month’s rent a year. The sea
Strong increase in bankruptcies in Norway (Finansavisen)
Once again, construction is the biggest driver of the increase in bankruptcies. There are also tough times in retail and catering. 329 Norwegian companies went bankrupt in September, an increase of 10 per cent compared to last year’s 298 bankruptcies. A total of 813 companies went bankrupt in the third quarter, which gives an increase of 18 per cent compared to last year’s figure. The quarter’s bankruptcy peak came in August. The sea
– This should be included in the budget (Finansavisen)
Few of NHO’s member companies believe that the temporary increased employer’s contribution will be removed from 2024. That worries the NHO boss. – It was one of the worst and most expensive ideas I have seen, says NHO chief Ole Erik Almlid about the temporarily increased employer’s tax of 5 per cent on salaries over NOK 750,000 that was presented when the state budget was presented last year. – This costs the business community over NOK 7 billion a year, and it is the business community that is affected, because it is an exception for the public sector, he says. The sea
Business revolt against the government: – Should worry the politicians (E24)
SMB Norway CEO Jørund Rytman urges the business community to come up with fictitious pitchforks. The lack of leaks makes him doubtful of good news in the national budget. – I have noticed it for several years, but now it is also known internationally that it is politically unpredictable in Norway. That should worry our politicians, says Rytman and adds: – It must be easier, cheaper and more predictable for Norwegian owners to run a business in Norway. The sea
NHO: The brakes are now on in the Norwegian economy (Finansavisen)
According to NHO, the high interest rates and prices have hit households and businesses, and consumption is falling while unemployment is rising. The bright spot, however, should be that the high inflation is on the way down. NHO points out that consumer prices in Norway, adjusted for taxes and energy, are expected to creep below three figures already in the first half of next year. It also means that interest rates can eventually be lowered. According to NHO’s forecasts, the first interest rate cut is expected to come as early as September next year. The sea
How many interest rate increases can the Norwegian economy withstand? Many, it seems (Anita Hoemsnes, DN)
The majority of Norwegian households have managed to adapt to interest rate increases and expensive times – so far. The sea
Oil fever in the Norwegian economy – medicine is needed to bring the temperature down (Lan Marie Berg (MDG), parliamentary representative, member of the finance committee and parliamentary leader) (DN)
While interest rate increases hit families and small businesses hard, there is an investment boom on the Norwegian continental shelf. It is high time to reverse the effect of the oil tax package. The sea
Norwegian seafood breaks export record for third year in a row (NTB)
Norwegian seafood worth NOK 42.1 billion was exported in the third quarter. Now the fisheries minister is announcing the third record year in a row. Measured in Norwegian kroner, July, August and September were the best third quarter ever for Norwegian seafood exports. So far this year, Norway has exported NOK 124.1 billion worth of seafood. In comparison, the total Norwegian seafood export in the whole of 2022 was NOK 151.4 billion. It was also a record, and 25 percent higher than the previous record, which was set in 2021. Read more
It is now that we need new collection rules (Inger Lise Blyverket, director of the Consumer Council) (DN)
The two large debt collection companies Kredinor and Intrum have completely different understandings of the reality of the situation in the debt collection market now. This shows the need for a new collection act. The sea
Rather, let the support go to the poor (Ole-Andreas Elvik Næss, researcher at Society and Business Research (SNF), Norwegian School of Economics) (DN)
Furne’s iron foundry made a profit of NOK 36 million last year. It was nice for the company’s billionaire owner that he received four million in electricity subsidies, but it was not good public spending. The sea
Storbank predicts an oil crash (Finansavisen)
This autumn has been one big oil festival. Now the major American bank Citi is predicting a complete halt in the world economy and a price crash. Citi believes that the demand side will be affected by weak economic growth, while the supply side will increase. The central bank predicts that growth in the world economy will fall by 1.7 per cent until next year and that trade between countries will stagnate. As a result, the demand for raw materials will also rise. The sea
– Something in the market will break and cause financial disaster (Finansavisen)
The banking giant believes that the ever-increasing interest rates will cause the economy to break. The long government interest rates in the USA of 10 and 2 years have passed 4.70 and 5 per cent respectively. It is the highest level since 2007 and causes headaches for investors. – If interest rates continue to rise as they have, an economic disaster will eventually occur. Something in the market will eventually break, and that will cause the Fed to move in the opposite direction, says David Lebovitz, global market strategist at JP Morgan Asset Management, to Bloomberg. The sea
Slaughtered the banks’ interest rate party in the “Debate”: – It couldn’t be more provocative (NRK Debatten/Nettavisen)
– While the customers are bleeding, the bank manager is grinning, said TV 2 veteran Oddvar Stenstrøm. DNB says that they have never had such low mortgage margins. read more
Liquidity squeeze for house builder Bakkegruppen: – An extremely demanding situation (DN)
2023 has been a tough year for Morthen Bakke’s housing construction company: – Compared to the crises I remember best, the situation is actually worse now, he says. The sea
Broker Spain luxury for 6 billion a year – moves to Norway (Finansavisen)
Torgeir Wemmestad-Haaland has built up a giant shop as a broker and developer of luxury property in Spain. Now he blows his taxes and moves to Norway. The sea
Former Røkke employee convicted in insider case (Finansavisen)
A former employee of Aker Horizons has been convicted of insider trading after leaking information about a billion-dollar deal. Thus, three people have now been sentenced in the case. The sea
Why are the poorest districts in the east? (Erlend Eide Bø, researcher, Statistics Norway) (DN)
It is not only in Oslo that the poorest districts are in the east, but also in many other cities. A new study explains it with wind direction and negative long-term effects. The sea
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Read also: This is what the newspapers write about Oslo Børs on Wednesday 4 October
2023-10-04 04:02:15
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