Prime Minister concerned over executive salaries
The Prime Minister received a warm welcome, but the audience might have given off a cooler vibe in response to one of his messages - that executives and CEOs need to moderate their wage increase. According to Stoltenberg, a potential wage increase in executive salaries could send the wrong signal to workers that have been told that they won’t get a raise due to the crisis in Europe. Whether the executives will follow his advice is unclear. Head of NHO, John G. Bernander, told NRK that he does not have the power to decide whether the CEOs of the companies he represents should limit their own wage increase. However, Bernander did encourage the leaders to show moderation, which according to Stoltenberg is crucial in order to let average workers be part of a fair settlement and avoid an economic crisis. Other points he raised was the importance of maintaining a balanced budget, not cutting taxes, as well as how the co-relation between economic growth and more jobs will help protect Norway in a financial downturn. He reminded the audience that the Government subsidizes several programs that help finance Norwegian exports. "When the public sector steps up to the plate, business leaders also have to be willing to restrain themselves," he said. (NRK) Julie Ryland
Friday, 06 January 2012 08:16
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The executives carry most of the responsibility for achieving a moderate wage settlement, Prime Minister Jens Stoltenberg told business leaders at the annual meeting of the Confederation of Norwegian Enterprise (NHO).
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