Virke calls for abolition of Norwegian wealth tax

The employer organization Virke has called for the abolition of the Norwegian wealth tax, arguing that the current system weakens local ownership and national competitiveness. In a formal response, representatives Hanne Lystad and Brage Baklien state that the tax creates a significant disadvantage for Norwegian entrepreneurs compared to their counterparts in other Nordic countries.

According to the organization, Denmark, Finland, and Sweden have already abolished wealth taxes, leaving Norway as an outlier among comparable welfare states. This disparity is cited as a factor in the difficulty of attracting capital; for instance, Swedish early-stage companies reportedly raised 14 times more capital than Norwegian companies during the first half of 2025. Virke argues that the tax forces local owners to pay even when businesses are running at a loss, potentially undermining long-term investment and local community stability.