Finance Minister Jens Stoltenberg has dismissed demands for guarantees about Norway's Government Pension Fund. Progress Party leader Sylvi Listhaug wants assurance that yesterday's parliamentary decisions won't be reversed during budget talks.
The Storting's vote means the government must now review the oil fund's ethical guidelines again. This could make it harder to exclude companies from the massive sovereign wealth fund.
Three parties that will negotiate the budget with Stoltenberg's Labour Party strongly criticized the decisions. Rødt, SV, and MDG all expressed concerns about the ethical framework changes.
Listhaug stated, "The Progress Party wants a clear guarantee from the finance minister that he won't give in. The oil fund must not enter budget negotiations with his chaotic partners."
Stoltenberg countered that the parliamentary decisions provide the foundation his government needs. He told lawmakers, "What I said in the Storting yesterday and repeat today is that we won't enter any compromises or agreements that conflict with yesterday's decision."
Budget negotiations begin in about a week and a half. The oil fund, valued at over $1.4 trillion, follows strict ethical guidelines that exclude companies involved in weapons production, human rights violations, and environmental damage.
Political observers note this clash shows the challenges Stoltenberg faces in balancing his Labour Party's traditional allies with the more conservative Progress Party's demands. The finance minister appears determined to prevent the world's largest sovereign wealth fund from becoming a bargaining chip in budget talks.