In brief
Norwegians voted on Monday to elect a new parliament in an election dominated by discussions about a wealth tax established in 1892. Approximately 4.3 million citizens are eligible to vote for the 169-member Storting. The Labor Party's Prime Minister Jonas Gahr Støre leads one bloc, while a right-wing coalition positions itself for a close outcome. Official results are expected on Tuesday, followed by potential coalition negotiations. While the election's outcome may not drastically shift Norway’s foreign policy, the result will influence the country's internal economic landscape, particularly regarding ongoing debates about the wealth tax.
OSLO, Norway (AP) — Norwegians headed to the polls Monday in the main day of voting for a new parliament, with the future of a wealth tax from the late 19th century a central issue.
About 4.3 million people in the Scandinavian nation are eligible to vote for the new 169-member parliament, known as the Storting. A close outcome is expected between a center-left bloc led by Prime Minister Jonas Gahr Støre's Labor Party and a right-wing coalition.
Official results are anticipated Tuesday, likely followed by weeks of coalition negotiations and discussions to form a new government under King Harald.
While the election may not significantly impact Norway’s foreign policy—being a NATO member and supporting Ukraine against Russia—the internal economic debate around the wealth tax remains contentious. Norway is one of the wealthiest nations globally, boasting a generous welfare state and a substantial sovereign wealth fund worth around 20 trillion kroner ($2 trillion).
The wealth tax, a crucial topic during the election, imposes a levy of up to 1.1% on assets surpassing 1.76 million kroner (around $176,000). The Labor Party advocates maintaining the tax, while the right proposes reductions or complete elimination. Polling suggests the Progress Party, which supports scrapping the tax, has gained traction among younger voters through dynamic social media outreach.
