US EditionUPDATE 1-Norway government secures budget backing, preventing cabinet fall
- On December 3, Labour Party reached agreement with four left-wing parties on the 2026 fiscal budget, ending a standoff ahead of the Friday vote.
- On Wednesday, SV demanded Norway's $2 trillion sovereign wealth fund divest from Israeli companies, but Labour refused, causing talks to stall.
- SV leader Kirsti Bergstoe said, `We have turned over every stone and fought hard, but we lost the battle for the oil fund,` while Prime Minister Jonas Gahr Stoere told parliament, `This government wants to develop, not dismantle `.
- The government will appoint a government-appointed commission to assess scenarios and measures as oil and gas production declines, while Johannes Bergh, political scientist at the Institute for Social Research, warned of a 'relatively weak government' facing more budget crises.
- Given Norway's role as Europe's top gas supplier and major oil exporter, Labour's dependence on coalition parties made a confidence vote crucial.
15 Articles
15 Articles
Al-Monitor
Norway government secures budget backing, preventing cabinet fall
By Terje Solsvik and Gwladys FoucheOSLO, Dec 3 (Reuters) - Norway's governing Labour Party said on Wednesday it had reached agreement with four left-wing parties in parliament on a 2026 fiscal budget, ending a standoff that had threatened to bring down Prime Minister Jonas Gahr Stoere's cabinet.The deal, which excludes demands for a gradual phaseout of oil and divestment in Israeli companies, came ahead of a vote on the budget due on Friday. If …
A looming government crisis in Norway was averted last night when the parties in the red-green bloc reached an agreement on the budget. Two of the parties in the bloc had withdrawn from the talks over the weekend and demanded changes. Negotiations on the budget have been ongoing for the past few weeks. Jonas Gahr Støre's Labor Party is the only party in the government after the left-wing bloc's victory in the parliamentary elections in September…
There will be no government crisis. The country will get a budget. But the chaos of the last few days should have been avoided.
MDG celebrates the oil commission as a victory. But the oil industry also welcomes it.
The most important news of the night Crisis averted – majority for the state budget MDG is cheering for a national monthly card and an oil commission, while SV got a breakthrough for the Palestine initiative, but was unable to twist the oil fund as they wanted. The five red-green parties were able to present the majority agreement on the state budget for 2026 at a press conference in the Vandrehallen at the Storting at 2 am on Wednesday. At tha…
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