SV pushes for higher financial tax on banks in upcoming budget talks

In preparation for next month's budget negotiations, SV's finance spokesperson Marthe Hammer said the party will work to raise the financial tax on banks, which was first introduced in 2017. Hammer highlighted that the exemption of financial services from VAT has created a sizable tax gap, noting that the banking sector is currently thriving. Jan Erik Fåne, director of policy and society at Finans Norge, cautioned that any increase in the tax would shift the burden to ordinary customers.

He also pointed out that the financial sector already pays higher taxes on profits and wages. The discussion will take place as the government seeks support from its coalition partners, including the Labour Party and the Green Party, to pass the state budget.