‘People are so angry’: how wealth tax became a battleground in Norway’s election

Issue creates clear dividing line between left and right, as populists target voters with vow to scrap levyIt is the issue that has set the Norwegian general election alight: whether to keep, cut or abolish the national wealth tax. As the country prepares to go to the polls on Monday, Norway is in the grip of a ferocious national argument that is likely to rumble on whichever party wins.In an economy less then a seventh the size of Britain’s, the formuesskatt raises about 32bn kroner (£2.4bn). Multiply that by the difference in GDP, and the same rules applied in the UK could raise more than £17bn – serious money in tax terms. Defenders say the wealth tax has another benefit. They see it as the cornerstone of a progressive tax system that has helped to create one of Europe’s most equal societies. Continue reading...

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