Press release: Increased tax reductions
As a result of a further weakening in world economic growth, the Norwegian economy has experienced a more pronounced slowdown since the presentation of the National Budget by the previous Labour Government. However, capacity utilisation is still high and the labour market remains tight, although some easing can be seen. The Government's Amendment to the Budget for 2002 is designed to contribute to a stable economic development in production and employment. The Budget proposal also underlines the Government's commitment to reduce the tax level, which will contribute to increase the growth potential of the economy.