NOK 1 billion surplus for Armed Forces (Aftenposten)

The Norwegian Armed Forces spent NOK 1.1 billion less than they were allocated to cover last year’s operations. Despite complaints of inadequate funding made by political defence spokespeople and military officers, it now appears that that the Armed Forces cannot even manage to use up the money they have been allocated. The budget surplus is almost double that of 1999, and comes at the same time as F-16 fighters are being grounded because there is not enough money to pay for fuel. According to Defence Minister Bjørn Tore Godal, the budget surplus is the result of a "deliberate cut in consumption".

Centre Party split over cooperation with Labour (Nationen/Saturday)

The issue of whether it should cooperate with the Labour Party has divided the Centre Party. There was open disagreement at the party’s annual conference about what the party should do if the centre alliance does not form a government after the next election. Per Olaf Lundteigen believes the Centre Party should stick to the centre alliance regardless. The party’s youth organization and vice president Signe Navarsete are keeping the door open for a deal with the Labour Party.

Challenge to Labour Party (Klassekampen)

The Centre Party voted to fight the Labour Party’s EU-harmonized society, and denounced both privatization and liberalization. The resolutions and speeches at the Centre Party’s annual conference this weekend were coloured by the party’s desire to challenge the Labour Party’s position in Norwegian politics. For that reason, old Labour policies were resurrected under the Centre Party’s banner, while Labour leaders Jens Stoltenberg and Thorbjørn Jagland were targeted as the key opponents during the coming election campaign.

Exit Progress Party – enter "Southern Counties List" (Dagsavisen)

Vidar Kleppe has resigned from the Progress Party and is planning to stand as a candidate on the so-called "Southern Counties List". Progress Party chairman Carl I. Hagen has warned he will publish damaging revelations about Mr Kleppe. "I am stoical about those threats. Mr Hagen is in the process of destroying his own life’s work," replied Mr Kleppe. "This just confirms that Mr Kleppe was only interested in the Progress Party for his own benefit," said Carl I. Hagen last night.

Losses exceed those on the stock exchange (Dagens Næringsliv)

The performance of two out of three Norwegian unit trust funds is worse than the stock exchange’s all share index, which has plummeted by 18.5 per cent since its peak 14 September last year. Only 24 out of 70 Norwegian unit trust funds have fallen by less than the Oslo Stock Exchange’s all share index. The Norwegian unit trust funds which have done best are managed by relatively low profile fund managers.

Raised interest rate first – notified customers afterwards (Dagsavisen/Sunday)

The Norwegian Public Service Pension Fund (SPK) is worse than the commercial banks. Most banks break the Financial Agreements Act – and notify customers two weeks before they raise interest rates. According to the law bank customers must be notified at least six weeks before any rise in interest rates. But the SPK has notified its 27,000 customers only after it raised its rates. The SPK is not particularly keen to pay any of the money back to its customers. If a change in interest rates is delayed for six weeks, the SPK stands to lose interest revenues of around NOK 6.9 million.

Kværner shareholders fear Kjell Inge Røkke (Aftenposten/Saturday)

Kjell Inge Røkke’s previous behaviour on the stock market could cost him control of Kværner. Many Kværner shareholders are positive to Mr Røkke’s plans and are beginning to lose patience with Kværner chief executive Kjell Almskog. At the same time they are frightened that if they support Mr Røkke they may end up losing out once Mr Røkke has gained control.

Storebrand focuses on ethical shares (Aftenposten)

Storebrand’s life insurance company has decided to purge its share portfolio of tobacco companies, landmine manufacturers and companies which infringe human rights. Several chemicals companies will also be thrown out. The insurance company believes it will be able to give customers just as high a rate of return on investment without buying shares in companies which operate unethically. Storebrand is the first Norwegian insurance company to take such a step, and will in future operate according to stricter investment criteria than the Government Petroleum Fund.

Worth Noting

• Resolutions calling for full adoption rights for homosexuals and declaring unambiguous support for the current Abortion Act, a unilaterally restrictive attitude towards private religious schools and a resounding no to the disestablishment of the Church of Norway were adopted yesterday by the Centre Party’s annual conference. (Vårt Land)
• The Centre Party has reversed its position with regard to adoption by homosexuals. This means there is now a majority in the Storting in favour of permitting adoption by homosexuals. However, the Government will not have time to introduce a bill on the matter before this autumn’s general election. And by then the current majority may have disappeared. (Dagsavisen)
• Johan J. Jakobsen and Anne Enger Lahnstein, two of the Centre Party’s most prominent figures since the Farmers’ Party was formed in 1920, are retiring from national politics. Together they have served as MPs for 42 years and have led the party for 20 years. (Verdens Gang/Sunday)
• "If Vidar Kleppe stands as a candidate on another list I will be completely at liberty to tell everything I know about how he has behaved," says Progress Party chairman Carl I. Hagen. He admits that he is concerned about the consequences if Mr Kleppe should stand on behalf of another party. (Aftenposten/Sunday)
• "It is about the most appalling thing I have experienced in all my life. The whole process has been conducted in true Kafka style. It is very sad that I have been forced to resign from a party I have served for twenty years," says Mr Kleppe. (Dagbladet)
• Nature and Youth, an environmental organization, wants to train tougher activists. Youngsters aged as low as 13 will be taught how to carry out illegal actions. (Dagsavisen)
• On 1 April a new labelling scheme for beef will be introduced in Norway. From that date the meat will have to be labelled to indicate where the animal came from, where it was slaughtered and where butchered. However, the Norwegian Consumer Council is calling for even stricter controls and labelling. (Dagsavisen/Saturday)
• Four wolves were shot from a helicopter during the weekend – the last two were shot yesterday. The hunt continues today for the last wolf for which the authorities have given a license to cull. (NTB)

Today’s comment from Dagens Næringsliv

Is there no limit to the baseness to which the Progress Party’s chairman, Carl I. Hagen, can sink? He is now threatening to publish revelations that will be extremely unpleasant for Vidar Kleppe, who has been suspended from the party, if Mr Kleppe should decide to stand as an election candidate for another party. We have no high opinion of either Mr Hagen or Mr Kleppe as politicians, and the events of this winter has made them no more appetizing. They are beginning to remind us forcibly of common louts. We would not shed a tear if the Progress Party disintegrated and was abandoned in disgust by the unaccountably large number of people who have supported it. It is therefore with mixed feelings we watch the play move on to the next act. Mr Hagen has said that he does not think this winter’s in-fighting will weaken the party’s chances of joining a coalition government. If he is to be believed, it does not matter what methods are used as long as the party becomes more ‘wholesome’. Time heals all wounds, according to him. We have greater confidence in Norwegian politicians than that. After this winter’s blood-letting in the Progress Party it would be a political profanity to offer Mr Hagen a warm and comfortable seat in government.