October 2, 2022

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Good luck in Switzerland, Kjell Inge Røkke! – V.G

Roger Rogke: – We should have more people like Rogke. Growing a business at this level is at least as laudable as skiing speed. But parts of SV, Rødt or Ap will never understand this perspective, writes the historian.

And thanks for your efforts.

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SymbolIt is a history. Chronicles reveal the writer’s attitude. You can submit chronicles and discussion posts to VG here.

Eric Furuseth, Partner Financo

Now many people are angry. The LO leader, now launched his action with a media statement “Take the rich man”, Miller. Moxnes doesn’t understand Røkke More and more Norwegians can move at the same time as queuing for food deliveries and Hadia Tajik Rokke was surprised that he ended up being a contributor to Norwegian society.

In the current year, Kjell Inge Røkke will have to take more than 600 million in dividends to cover the wealth tax (calculated at 360 million as a result of Aker’s price increase, and a lower valuation discount for the shares) staying in Norway.

Røkke then had to pay approx. 250 million as dividend tax to fund wealth tax. Tax on dividends has been increased to 35.2 percent from 31.68 percent last year. Summing it all up, Røkke has an effective wealth tax rate of approx. 1.85 percent. This makes competition against international franchises difficult.

I think at one point or another you have to let go of the moral outrage at wealth and have a real discussion about what capital flight ultimately means for our competitiveness and jobs.

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Even though the Swedes have twice as many people as us, we spend as much money on government administration. The public sector now accounts for two-thirds of primary GDP, and we see clear signs of Dutch disease in the Norwegian economy.

And if you continue to pit demographic groups against each other and continue the rhetoric of “taking” or “quick” the rich, and the steep increases in tax rates we’ve seen in the past, you’re doing yourself a disservice. year.

It can actually have real consequences.

Also, these discussions will be about Tvenge, Røkke, Thon and Witzøe. But the truth is that they are not the most affected by the tax hike. It’s owners of small and medium-sized businesses who face tough choices when it comes to taking out dividends and paying higher dividend taxes to finance the hefty property tax.

Times will be tough now, so the questions quickly change: Should we lay off workers? Abandon a planned new assignment? Or at least not offered a permanent position?

I believe it is a necessary recognition that we need long-term risk capital in Norwegian hands, and the creation of competitive companies and private workplaces.

If we have approved that first, the next step is to understand that you need the structural conditions that will enable you to establish and operate these companies in Norway.

School dropout Kjell Inge Røkke moved to Seattle with two empty hands, and through hard work and determination he bought a trawler. He eventually made a fortune. He almost took it. He moved to Norway with him for 20 years and used that money to become the leading industrial construction company of his generation with a Norwegian passport.

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Over the past ten years, he has paid around NOK 1.2 billion in personal taxes.

To say that Røkke “doesn’t work for money” is almost as foolish as those who believe that he’s got a fortune that was made exclusively by Norwegian workers. That’s just plain wrong. The foundation was laid in America, and was best managed in Acre.

Rokke has thus contributed enormous tax revenues to Norway both personally and through his companies.

Aker BP alone will pay 70 billion in taxes this year. Most of Norway has developed competitive workplaces and it is very interesting!

The financial discipline of Fylkesnes, the SV vice-chairman, is less impressive. Or Rødt thinks Røkke is personally responsible for poverty. Or Hadiya Tajik with her views on transfer and tax morality.

I’d like to say “thanks for the effort”, “thanks for the watch” and good luck to Kel Inge Rokke in Switzerland!

Rather, we should be more like Him. Growing a business at this level is at least as laudable as skiing speed.

But parts of SV, Rødt or Ap will not understand this perspective.

It’s great to see the reactions. “There must be something wrong with the tax system, because we can’t get our hands on Rogke’s wealth. We need to make changes!”

We do not intend to look at how we attract and secure capital in Norway.

If we take the trouble to see what Røkke’s message was when he announced this move, it’s that he will give most of his wealth to socially useful causes. Contrary to what most people who amass great wealth like to do, the narrative that the “rich” are a bunch of people who only think about themselves is in stark contrast.

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Millionaires don’t have it easy in Norway.

But if we recognize that long-term private risk capital is needed to create and sustain competitive companies and jobs, we must also accept that business owners get big fortunes when companies rise in value. So no one becomes poor.

But Norway has become a little poorer since Kjell Inge Røkke moved to Switzerland.