Norway's Tight Election: A Battle Over Wealth, War, and Welfare

Norway's parliamentary elections concluded with a nail-biting race between the ruling Labour Party-led left-wing bloc and the right-wing coalition of the Progress and Conservative parties. Dominated by concerns over inflation, taxes, and living costs, the results could significantly impact Norway's oil, gas industry, and its sovereign wealth fund.

The Labour Party saw a surge in support following the return of former NATO head Jens Stoltenberg to politics as the finance minister, a move that invigorated their campaign deemed "Stoltenback." His inclusion bolstered Labour's image as a stable alternative amid international turbulence, including the wars in Ukraine and Gaza.

For the right, wealth taxation was a pivotal issue, with business owners, like Ronny Moeller, emphasizing the burden of wealth taxes. This election could potentially lead to a 'tutti frutti' government coalition, incorporating diverse parties like the Greens and Communists, pressing for policy changes in oil exploration and spending increments.

(With inputs from agencies.)