Finance Minister Trygve Slagsvold Vedum told Norwegian Broadcasting (NRK) that people can be confident that electricity subsidies will continue as long as prices are unusually high.

“After March 2023, we also plan to introduce a subsidy system next year. Although it has not been finally adopted, the government will recommend it to parliament (Storting),” said Finance Minister Trygve Slagsvold Vedum, SP. ) told NRK.

Starting September 1, the state will cover 90% of the bill when the electricity bill exceeds 70 ole per kilowatt hour. The Ministry of Finance estimates that the state will spend his 40.7 billion NOK her kroner on household electricity subsidies this year.

“When we adopted this scheme last fall, our analysis indicated that prices could normalize this summer. As long as this continues, people can feel secure that we have a support scheme.

The government plans to meet next Wednesday and Thursday for a final budget meeting before next year’s state budget is presented on Oct. 6. Prime Minister Jonas Gar Sutor told the newspaper Dagens Næringsliv on Saturday that the use of petrodollars would decrease.

Vedam confirmed the information. Additionally, he made the following budget commitments to NRK:

* “Low- and middle-income earners” are eligible for tax reduction. According to Vedum, this applies to those whose annual income is less than her 750,000 Norwegian kroner.

* Large and expensive new public projects are put on hold.

* The budget should contribute to reducing inequality in Norway.

* Defense and preparation become key priorities.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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