Government proposes largest income tax cut in 20 years
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The Norwegian government has unveiled its 2027 state budget proposal, featuring the largest income tax cut in two decades, amounting to 6.4 billion kroner. As part of the budget, there are also plans to reduce electric car taxes and implement a 1.2 billion kroner cut in general car taxes, while climate taxes are set to increase. The proposal has garnered analysis ranging from a professor deeming oil fund usage responsible to investors expressing skepticism about its economic impact.
In other domestic news, the Finance Union has issued a warning regarding DNB bank's planned AI-driven job cuts, affecting around 400 positions. The national train strike continues to cause disruptions, with nearly 200 departures expected to be affected on Friday. The government has also decided against a price cut for monthly public transport passes, potentially leading to increased fares.
Police are actively searching a forest area with drones for a missing person, Rikke Tofland Karlsen. Meanwhile, a report details wage increases in Norway, and ten former ministers have publicly criticized the government.