the Government’s estimates for oil revenue spending in the state budget 2017 (net cash flow) is 138 billion. The continued development of the Norwegian continental shelf and access to new land is essential for the inntektsfallet not going to increase in the coming years.
The type of the Norwegian oil and gas in a message.
– Inntektsfallet from the petroleum industry and the increasing imbalance between oil income and oljepengebruk, is serious. To maintain and develop today’s welfare society, we are dependent on that it is to facilitate the continued development of the Norwegian continental shelf through to assign a new attractive area, says the managing director of Norwegian oil and gas, Karl Eirik Schjøtt-Pedersen.
If it is not open for new fields it will regardless of oil prices, in a few years be added to significantly less money from the petroleum industry to the state budget, as several of today’s field is approaching the end of their life. Option to open new fields will be a decline in oil revenues.
In 2014, oil revenues (the state’s net cash flow) 312 billion and oljepengebruken (transferred from the pension fund) 156 billion. In the budget for 2017 is the oil revenues estimated at 138 billion, while oljepengebruken is 260 billion.
– If this continues we will sooner had to cut in velferdstilbudet or raise taxes to keep velferdstilbudet. This shows how important it is that we manage to maintain the large revenues from the oil and gas industry, ” says Schjøtt-Pedersen
In the proposed budget reduces government corporate tax to 24 per cent. For the oil and gas industry nulles this relief is through the increase of other taxes.
– In a situation where the government reduces the corporate tax to increase the competitiveness of the Norwegian business sector, it is remarkable that this shall not apply for the Norway’s most important industry, states Schjøtt-Pedersen.
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