The general compensation system for business and industry will be smaller than before. Along with the gradual opening of the society and the increase in activity in the business environment, the need for state support for the business environment will gradually decrease.
There are still industries that are struggling with the effects of the pandemic, so the compensation system will last until October
- Activity in the economy has increased sharply in recent months. Once the government's re-opening plan is implemented, the companies concerned will also be able to gradually ramp up operations to a more normal level. There are still industries that are struggling with the effects of the pandemic, so the compensation system will last until October, says Trade and Industry Minister Iselin Nybø.
Changes to support requirements. The drop in turnover threshold has been raised
The compensation program will last until October 2021, but in a shortened version during the subsidy period in September / October 2021.
The turnover threshold has been raised from 30 percent to 40 percent in order to be able to better target support to those industries and companies that still need compensation.
In addition, the calculation formula has been adjusted. Fixed, unavoidable costs will now be multiplied by the percentage drop in turnover minus 40 percentage points, instead of the 30 percentage point deduction so far. The so-called correction factor in the calculation formula remains unchanged.
Changes to the regulations require the approval of the EFTA Surveillance Authority (ESA)
Tracking the revised national budget
It was also proposed to reduce the maximum monthly support from NOK 40 to 10 million
In the Revised National Budget (RNB) 2021, the government proposed to extend the compensation system for business and industry by two two-month periods. This means that the program is also valid in July / August and September / October, but in its shortened version, which provides stronger incentives to increase economic activity.
At the same time, the government asked the Storting to allow the program to cease after one two-month period if the re-opening of society had gone far enough at the national level. It was also proposed to reduce the maximum monthly support from NOK 40 to 10 million from September. A power of attorney to make the necessary changes has been requested to further strengthen incentives for activity if the program is not withdrawn. The Storting agreed to the government's proposal for a review of RNB 2021 on June 16, 2021.
Norway is also high on the list, including how much money we spend on pupil and student and the percentage of adults who participate in formal or informal skills development.
