Norwegian Red Party Proposes NOK 34B Tax Hike in Alternative Budget

Norway's Red Party (Rødt) unveiled an alternative national budget proposing a NOK 34 billion tax increase by 2027, including a NOK 16 billion wealth tax hike and higher dividend taxes, while cutting VAT on food and lowering taxes for incomes below NOK 800,000. The proposal is a political statement rather than a binding policy, but signals a leftward shift in fiscal debate ahead of elections. Its market impact is limited unless it gains coalition traction.

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