Today in Norway: A roundup of the latest news on Wednesday
Proposals for an exit tax, jobs minister says not enough immigrants in work, and other news making the headlines in the country on Wednesday.
Labour Minister says not enough immigrants in work
Labour and Inclusion Minister Brenna has told public broadcaster NRK that not enough immigrants in Norway are in work. She pointed to figures that show 80 percent of Norwegians are in work compared to just 69 percent of immigrants.
"The immigrant population is, to a lesser extent than the majority population, employed, meaning they work less and are less present in working life," she said.
Brenna also pointed to figures which highlighted that the children of immigrants were also more likely to grow up in poverty.
American judge approves SAS rescue plan
In a significant development for Scandinavian Airlines (SAS), American judge Michael E. Wiles has given the green light to the airline's new rescue plan. The decision was made during a court hearing in New York, as reported by the newspaper E24.
The approval came after a challenging process, with SAS CEO Anko van der Werff acknowledging the hard work that lies ahead. Most creditors had already lent their support to the plan before the hearing, the newspaper reported.
SAS has been navigating financial turmoil since 2022, striving to avoid bankruptcy. One of its key strategies has been seeking protection under Chapter 11 in the USA.
Part of the rescue effort involved securing fresh equity to raise 9.5 billion kroner. With the judge's approval, SAS now plans to restructure its operations in Sweden.
As a consequence of the restructuring, existing shares will be delisted, leading shareholders to lose their stake in the company.
Stricter tax rules proposed for emigrants
The Norwegian government wants tougher tax regulations for people leaving the country. Under the proposed changes, emigrants will face a new exit tax.
This tax would be calculated based on the gains people have accrued in Norway, taking into account assets moved across the border, according to the Norwegian Broadcasting Corporation (NRK).
According to the proposal, anyone leaving the country starting from March 20th would be required to pay taxes on these gains within a 12-year period.
Norway's Finance Minister Trygve Slagsvold Vedum emphasized the principle of fairness behind the proposal, arguing that "it's only right for people to contribute taxes on assets accumulated in Norway" when they relocate.
Low election turnout among Russians living in Norway
Recent data reveals a low turnout among Russian citizens residing in Norway during the recent presidential election.
According to official Russian figures, nearly six out of ten Russians in Norway voted for Vladimir Putin, with Oslo reporting the lowest proportion of votes.
Vladimir Putin secured 58.14 percent of the vote among voters in Norway, with a mere 568 Russian voters in Norway supporting him, as reported by the newspaper Aftenposten.
The statistics bureau Statistics Norway (SSB) noted that by the end of 2023, the number of Russian citizens aged 20 and above living in Norway totalled almost 19,000.
The election has faced criticism for failing to adhere to democratic standards.
Sbanken shuts down online banking for days
Sbanken, a Norwegian online bank, has announced a temporary closure that will affect numerous customers.
According to the newspaper Aftenposten, the online bank will be inaccessible from March 26th at 2pm until March 29th.
During this period, customers will be unable to access their accounts or perform money transfers. The closure is due to Sbanken's transition to a new app.
Customers are advised to ensure they have sufficient funds available on their cards to manage during the downtime.
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Labour Minister says not enough immigrants in work
Labour and Inclusion Minister Brenna has told public broadcaster NRK that not enough immigrants in Norway are in work. She pointed to figures that show 80 percent of Norwegians are in work compared to just 69 percent of immigrants.
"The immigrant population is, to a lesser extent than the majority population, employed, meaning they work less and are less present in working life," she said.
Brenna also pointed to figures which highlighted that the children of immigrants were also more likely to grow up in poverty.
American judge approves SAS rescue plan
In a significant development for Scandinavian Airlines (SAS), American judge Michael E. Wiles has given the green light to the airline's new rescue plan. The decision was made during a court hearing in New York, as reported by the newspaper E24.
The approval came after a challenging process, with SAS CEO Anko van der Werff acknowledging the hard work that lies ahead. Most creditors had already lent their support to the plan before the hearing, the newspaper reported.
SAS has been navigating financial turmoil since 2022, striving to avoid bankruptcy. One of its key strategies has been seeking protection under Chapter 11 in the USA.
Part of the rescue effort involved securing fresh equity to raise 9.5 billion kroner. With the judge's approval, SAS now plans to restructure its operations in Sweden.
As a consequence of the restructuring, existing shares will be delisted, leading shareholders to lose their stake in the company.
Stricter tax rules proposed for emigrants
The Norwegian government wants tougher tax regulations for people leaving the country. Under the proposed changes, emigrants will face a new exit tax.
This tax would be calculated based on the gains people have accrued in Norway, taking into account assets moved across the border, according to the Norwegian Broadcasting Corporation (NRK).
According to the proposal, anyone leaving the country starting from March 20th would be required to pay taxes on these gains within a 12-year period.
Norway's Finance Minister Trygve Slagsvold Vedum emphasized the principle of fairness behind the proposal, arguing that "it's only right for people to contribute taxes on assets accumulated in Norway" when they relocate.
Low election turnout among Russians living in Norway
Recent data reveals a low turnout among Russian citizens residing in Norway during the recent presidential election.
According to official Russian figures, nearly six out of ten Russians in Norway voted for Vladimir Putin, with Oslo reporting the lowest proportion of votes.
Vladimir Putin secured 58.14 percent of the vote among voters in Norway, with a mere 568 Russian voters in Norway supporting him, as reported by the newspaper Aftenposten.
The statistics bureau Statistics Norway (SSB) noted that by the end of 2023, the number of Russian citizens aged 20 and above living in Norway totalled almost 19,000.
The election has faced criticism for failing to adhere to democratic standards.
Sbanken shuts down online banking for days
Sbanken, a Norwegian online bank, has announced a temporary closure that will affect numerous customers.
According to the newspaper Aftenposten, the online bank will be inaccessible from March 26th at 2pm until March 29th.
During this period, customers will be unable to access their accounts or perform money transfers. The closure is due to Sbanken's transition to a new app.
Customers are advised to ensure they have sufficient funds available on their cards to manage during the downtime.
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