Norway will raise a number of taxes for the rich, while also reducing tariffs and taxes for the ordinary citizens, the country's new center-left government announced on Monday
MOSCOW (Pakistan Point News / Sputnik - 08th November, 2021) Norway will raise a number of taxes for the rich, while also reducing tariffs and taxes for the ordinary citizens, the country's new center-left government announced on Monday.
"The wealthy should take more responsibility, while life should be made easier for ordinary people. The tax levied on electric power supply will be reduced, deductions for commuters will be increased, ferry prices will be lowered as will the maximum price for child care programs. We have also increased the wealth tax, the tax on dividends and the bracket tax for the highest earners," Finance Minister Trygve Slagsvold Vedum said in a statement.
The draft bill marks a new course in the country's tax policy "to improve everyday life for low- and middle-income groups throughout the country," according to the statement.
Norway's parliamentary elections, held in September, resulted in the Labour Party gaining 26.4% of the vote against the ruling Conservative Party's 20.5%. A minority coalition of Labour and the Centre Party, which took office in mid-October after winning national elections, has pledged tax relief for low- and middle-income families and higher taxes for the rich.
