Solberg kicks Vedum over improper use of oil money

It is not just the level of oil money use that is important, but also how the money is used. Solberg confirmed this in a speech to the Conservative Party’s central board on Sunday, where she addressed the rule of action and aimed a kick at Finance Minister Trygve Slagsvold Vedum (Sp).

– The fact is that although the government has increased the use of oil money by over NOK 50 billion, they have also spent NOK 50 billion less on what is supposed to promote growth, said Solberg.

– Instead of giving growth-promoting tax breaks, for example, the government has increased taxes by almost NOK 39 billion, she continued.

Many will be familiar with the fact that it rests on an agreement that one should not spend more than the return each year, which is estimated at 3 per cent.

– But the equally important part of the code of conduct is what they are used for, said the leader of the Conservative Party.

Want clarification before the summer

The action rule came into place in 2001, it has been agreed that the oil money should be used to strengthen the long-term restructuring of Norway. It was defined as knowledge, infrastructure and growth-promoting tax relief.

– Now, unfortunately, Støre and Vedum want to forget this part of the code of conduct compromise, said Solberg.

Solberg believes that the government must clarify the guidelines for its financial policy and restructuring plan when the perspective report comes before the summer.

– If they want to move away from the broad national compromise we made in 2001, and repeated in 2017, then the government must dare to be honest. And say it clearly, she said.

Vedum: Too narrow an understanding of growth

And you reader post recently Finance Minister Trygve Slagsvold Vedum (Sp) defended the government’s priorities.

– Using oil money to make everyday life for ordinary people a little better I think is right, he wrote.

Vedum thought the Conservative Party had too narrow an understanding of what creates growth and development. He highlighted more affordable daycare and after-school arrangements (SFO/AKS), reduced travel costs, free ferry and commuter allowance and other things that are part of people’s everyday economy.

– A strong Norwegian community where we lift each other up gives people security and the business sector increased competitiveness, he wrote further.

Acknowledged own use of oil money

In her speech on Sunday, Solberg admitted that the use of oil money ticked upwards also during her reign. And she admitted that no government has spent money only on growth-promoting measures since the compromise on the action rule was available.

– What is new is that we now have a government that spends less money on growth-promoting measures, she claimed.