Sunday, October 24

These are the revenues and expenditures of the central government in 2022 – E24



VAT is more important than oil revenue. More than one in three crowns of expenditure goes to social security and pensions. The state budget for 2022 is almost NOK 1.6 billion.

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In 2022, the government expects current oil revenues from the wells to be much higher than this year. Therefore, the government needs to raise “only” NOK 23.2 billion from the Oil Fund to balance the state budget for 2022.

Moms

The most important source of income in the state. Paid for almost all the goods and services that people buy. The most common rate is 25 percent. Lower rate on food and some other goods and services.

Wealth and income tax on the continent

Individuals and businesses pay taxes on income, wealth, and profits. Salary is by far the most important tax base.

This year’s oil revenue

These are the current and direct income from the oil business to the treasury. They include taxes and fees from oil companies, dividends from Equinor, and profits from direct state holdings in the oil and gas fields.

Employer tax

All employers pay the tax on the basis of wages paid and other compensation to employees. Rates vary geographically, with the highest rate in central areas.

Social Security Contribution

This is comparable to a tax. It is paid by people on the basis of gross salary, gross pensions, and business income at different rates for the three types of income.

Taxes on alcohol and tobacco

They have high taxes because the state needs money and both are bad for health. Helps reduce consumption.

Car taxes

A series of taxes on the purchase and use of a car. It provides money to the state and also helps motorists pay the costs they inflict on society in the form of pollution, noise and road wear.

Other income

It is a large exchange that includes interest on state loans and shared dividends from state holdings in the business community on the mainland, for example in Statkraft, Hydro and DNB.

Social security and pensions

Much of the state budget consists of transferring money from taxpayers to beneficiaries of social security. The old-age pension of the National Insurance Regime is the most important item of expenditure in the budget. In addition, disability pensions, sickness benefits, and specific health services are important spending items in the National Insurance Plan.

Framework grants to municipalities and counties

It is an important part of the income of the municipalities. They can use the framework grant freely. In addition, municipalities receive specific subsidies from the state and have their own tax and business revenues.

The hospitals

Hospitals are managed through the regional health authorities, but are financed from the state budget.

The Armed Forces and the Police

The Armed Forces have their own long-term plan that is a guide to annual budgets. The money goes to both investments and operations.

Transport

A large mail bag. Includes, among others, operating expenses and investments in roads and railways.

Higher education

Higher education in Norway is mainly free, as students generally do not pay at university. Therefore, the state must finance most of it.

Parental benefits, child benefits and cash benefits

These are the benefits that are provided to families with children. Parental benefits pay for parental leave after birth. Child benefit is for children under 18 years of age. Cash aid is given to children ages 1 to 2 who are not in kindergarten.

Attendance

Norway is one of the countries in the world that provides most of the country’s income in aid to poor countries.

Public spending on oil activities

Because the state has direct ownership interests in the oil fields, it must also contribute to investment and operating expenses.

Other expenses

A large mail bag. Includes, among others, operating expenses and investments in roads and railways.

The final invoice

As in all other years: spending is much higher than current state budget revenue. Therefore, the money is collected from the Petroleum Fund. ensures that the state budget is settled in a balanced way.


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