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We Need a New Industrial Revolution in Norway

Federation of Norwegian Industries presented its economic
report for 2012. The report predicted that 2012 will be a little too exciting
year due to the ongoing Euro crisis and its gradual and serious spread into
Norway. Federation expects the government to be prepared to face a
proliferation of European banking crisis to Norway, with appropriate measures.
The report particularly emphasized on the challenges of international
competition due to high taxes and costs.

Conservative deputy leader Jan Tore Sanner and Conservative
(H√łyre) business policy spokesman Svein Fl√•tten believe the report is a call
for more competitiveness and a shift in policy.

– Content of the report are consistent with the Conservative
view of the challenges in the Norwegian economy. The trend is positive, but
large parts of Norwegian industry need better conditions to compete in a world
where demand is falling, says Sanner.

Flåtten also thinks there is a need for long-term strategy
that can secure jobs in the competitive sector and he suggests that Norway must
increase its productivity and competitiveness to ensure growth and employment.

Industry out of Oil
Sector is less positive

The report shows a worrying trend in the number of Norwegian
companies that are not directly related to the oil industry. Industry outside
the oil industry expects unchanged sales in the export market and fewer
employments in this year.

-Rather than making Norway more dependent on oil revenues,
we should increase investment in knowledge infrastructure, education, and
research and improve the framework conditions for companies, said Sanner.

He also suggested that they need more production, not more
tax to safeguard the future of the welfare state.

We need a revolution

The Conservative politicians, at the same time, criticized
the environmental requirements. They said the Norwegian industry still faces
strict environmental requirements, even though Norway's emission of CO2 is at a
relatively low level in the international context thanks to energy-saving
measures.

– There is a need for introduction of effective climate and
environmental technology. A new industrial revolution in Norway can help to
show the world that it is possible to combine economic growth and high living
standard with low emissions, said the politicians from H√łyre.

The Report Names Five
Remedies to Challenges for Development of Norwegian Industry

– Relatively high taxes and tax increases in recent years
must be reversed

– The exchange rate is too strong – Norges Bank must
continue to manage monetary policy flexibly by looking ahead.

– The capacity of the education of civil engineers must be
increased when the current demand is more structural than cyclical

– Engineering must be structured and financed to reduce the
dropout rate

– Measures to prevent carbon leakage must be introduced.

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