Increase taxes by 46 billion – VG

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– There are many who have a hard time making ends meet. Therefore, the government is taking several measures to reduce the cost of living for people. This is covered by those with stronger shoulders who contribute the most, says Finance Minister Trygve Slagsvold Vedum (Sp).

– This government will prioritize people with low and normal incomes across Norway, he adds.

Vedum has promised a limited budget and there has been a lot of tension related to where the government will cut and where it will bring extra revenue.

The state budget has been established Street at 10:00

So taxes change

VG updates the issue with the news that comes to light. Here are some of the biggest news so far:

• Taxes will increase by NOK 46 billion in total next year.
• Of these, the increase in corporate taxes is NOK 41 billion.
• The government proposes to reduce the income tax below NOK 750,000 in total by around NOK 4.5 billion.
• At the same time, the government proposes to raise the wealth tax by a total of NOK 2.4 billion. This is true for the 14 percent with the highest wealth.
• The government is introducing an additional employer tax of 5% for wages above NOK 750,000 in the budget. It will provide an extra NOK 7.7 billion from businesses to fill the state coffers.

According to Vedum, a family with two wage incomes of NOK 550,000 will pay around NOK 7,800 less in taxes in 2023 than the 2021 rules, with the government’s proposal. It is therefore assumed that the salary is the only income and that they have only standard deductions, i.e. personal deductions and minimum deductions.

Read all about the state budget in VG’s live studio.

Left: – A crazy game

Liberal Deputy Leader Sveinung Rotevatn, for his part, is very surprised at how tight the government budget is, after weeks of messages on a “very tight” budget from Støre and Vedum.

– It turns out it’s not a particularly tight budget. It’s a budget where they find room for their investments and desires, like a free ferry, free kindergarten up north, while at the same time drastically increasing taxes, Rotevatn tells VG.

– This is a crazy game, he says.

Rotevatn promises that Venstre will have a tighter alternative budget.

He fears a rise in interest rates

The left deputy leader indicates that the so-called budget impulse is minus 0.6. This figure says something about how tight the budget is.

By comparison, Norges Bank has so far assumed a budget boost of minus 1.7 and the Solberg government’s proposal last year was minus 2.2.

– It’s a less tight budget than Norges Bank thought. This could risk further interest rate hikes, she says.

He adds a warning that some important figures for next year such as alleged unemployment and economic growth will be included in the balance sheet, figures that the government has had access to, but Norges Bank has not.

– I should have tightened more

NHO chief economist Øystein Dørum also believes the government believes it should be more restrictive if it is to match its own economic projections.

He says anything other than austerity would be hugely surprising, but he’s still not sure if the government has tightened up spending enough.

– If the government is right with its macroeconomic projections, then it should tighten more. They have optimistic estimates. They have the highest growth projections, highest employment and lowest unemployment in their projections, Dørum says.

read the whole case his.

– Evening business song

Stian Sigurdsen, Virke’s community impact director, describes the budget as an “evening business song”.

– With this, the government puts an end to the ability of companies to face a severe winter. What companies need now is a policy that ensures investments, growth and innovation throughout the national territory. Here they distribute the crumbs with one hand, while sweeping them away with the other.

FRP leader Sylvi Listhaug rages against tax increases.

– In 2022, the government presented the largest tax hike in the past 20 years. Subsequently, the prices of fuel, electricity, food and interest rates have risen sharply. Now the government believes that the tax bomb of those times is the right medicine. This will have serious consequences for people and businesses, says Sylvi Listhaug.