LO happy about tax settlement on the salmon industry

– LO is satisfied that the government has secured a majority for a ground rent tax for the salmon industry, says LO leader Peggy Hessen Følsvik.

The government has obtained a majority and a cross-party agreement on ground rent tax on aquaculture. The salmon industry now receives a basic interest tax of 25 per cent – in addition to the ordinary tax rate.

Long-term solution

– We are satisfied that a solution has now been reached with ground rent tax. Over several decades, the farming industry has reaped large profits from the community’s resources. Then it is only right and reasonable that some of this surplus benefits local communities and communities, says LO leader Peggy Hessen Følsvik.

She points out that investments in the salmon industry have been extremely profitable, and will continue to be so with this tax model. The basic interest tax will continue to create growth and development and secure jobs along the entire Norwegian coast, which is important for viable local communities.

Profitable industry

– It is important that we now introduce a principle that those who reap large profits through the utilization of our common natural resources also contribute to the community by taxing what has been and will continue to be an extraordinarily profitable industry, she concludes.

– We have a tradition in Norway for industries that earn large sums of money from our common natural resources to contribute to the community in this way. It is a good distribution policy and it is absolutely necessary to ensure local development and good welfare schemes in the future, says the LO leader.