Norwegian Elections: Wealth Tax Controversy Takes Center Stage

Sat Sep 13 2025 14:33:29 GMT+0300 (Eastern European Summer Time)

As Norwegians vote for a new parliament, the future of a longstanding wealth tax from the late 19th century remains a hotly debated issue, influencing various political factions ahead of coalition negotiations.

Norwegians have headed to the polls to elect a new 169-member parliament, with the future of a historical wealth tax as a central theme. Approximately 4.3 million citizens are eligible to vote, and a close race between the center-left bloc led by Prime Minister Jonas Gahr Støre and the right-wing bloc is anticipated. The outcome will likely not affect Norway's foreign policy but may lead to substantial negotiations for coalition governance. With the wealth tax being debated, the Labor Party aims to maintain its presence while the Conservatives and Progress Party push for reductions or complete elimination of the tax.

OSLO, Norway (RTWNews) — On Monday, Norwegians participated in the main voting day to elect a new parliament, with the future of a wealth tax that has been in place since the late 19th century serving as a focal point of political discourse.

About 4.3 million citizens in this Scandinavian nation are eligible to vote for the new 169-member parliament, known as the Storting. A closely contested outcome is expected between a center-left bloc led by the Labor Party of Prime Minister Jonas Gahr Støre and a right-leaning bloc.

Official results are expected on Tuesday, likely followed by weeks of negotiations to form a coalition government and decide on cabinet positions before King Harald can officially endorse the new administration.

Notably, the election outcome is not expected to significantly alter Norway's foreign policy. The country remains a committed member of NATO and staunchly supports Ukraine's defense against Russian aggression. Although not an EU member, Norway maintains close economic ties with the European Union.

Norway is recognized as one of the wealthiest countries globally, featuring a robust welfare state, vast oil and gas reserves, and a sovereign wealth fund worth approximately 20 trillion kroner ($2 trillion). Its gross domestic product per capita ranks sixth globally, even surpassing the United States, according to the International Monetary Fund.

Labor aims to preserve the wealth tax, a levy of up to 1.1% on assets exceeding 1.76 million kroner (around $176,000). The party argues that eliminating the tax could cost the government 34 billion kroner ($3.3 billion) annually. Meanwhile, the Conservatives propose reducing the tax, and the Progress Party, led by Sylvie Listhaug, advocates for complete abolition.

Recent polls indicate that Listhaug’s Progress Party has gained traction, potentially outpacing the Conservatives, led by former Prime Minister Erna Solberg, who was in power as the senior partner from 2013 to 2021. The Progress Party's rise has been fueled by a vigorous social media campaign that has particularly resonated with younger voters opposed to the wealth tax.