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Emergency financial support for businesses

The Storting considered a number of government proposals during its last sitting before Easter on Tuesday 7th April. This included a package of emergency measures for businesses. A majority in Parliament supported the proposed new legislation.

From the sitting of 7th April 2020. Voting is just about to start. Photo: Storting.

From the sitting of 7th April 2020. Voting is just about to start. Photo: Storting.

New legislation

A majority in the Storting supported the Solberg Government’s proposal to introduce a temporary grant scheme for businesses that have experienced a dramatic fall in turnover.

Other measures put forward by the Government included amendments to the Contributory Pension Schemes Act, the Company Pensions Act, the Public Service Pensions Act, the Insurance Contract Act and the Tax Payment Act. All draft amendments gained the support of the Storting during the first reading. The second reading will take place on Tuesday 14th April, when the Storting reconvenes after Easter.

Petition resolutions

In addition, there was majority support in the Storting for the following petition resolutions:

  • The Storting asks the Government to consider various measures that will enable viable businesses to continue operations rather than to close down.
  • The Storting asks the Government, during its continuing work, to ensure that the regulations are as watertight as possible to prevent businesses who receive financial support under the temporary compensation scheme from moving money out of the country in violation of the intention of the scheme.
  • The Storting asks the Government to monitor the situation for start-ups and growth companies closely, and to assess how far the different measures help them.
  • The Storting asks the Government to consider whether certain costs in the compensation scheme may be accrued in accordance with the “matching principle” in section 4-1 of the Accounting Act, so that costs incurred to generate an income are attributed to the same period as the income.
  • The Storting asks the Government to ensure that undertakings that have extensive economic operations, but that do not have acquisitions for the purpose of generating revenue, and consequently do not pay tax, are safeguarded under the compensation scheme. Such undertakings may include sheltered businesses, foundations, non-profit organizations, museums, and many other organizations within the sphere of culture.
  • The Storting asks the Government to consider how private and non-profit participants who provide welfare services may be compensated for additional costs incurred as a result of the corona pandemic.
  • The Storting asks the Government to consider a separate compensation scheme that is better adapted to the media’s special income structure, and to return to the Storting with proposals relating to this as soon as possible.

A petition resolution is a Storting decision in which a parliamentary majority asks the Government to do something or to ensure that something is done.

Last updated: 15.04.2020 14:05
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