Parliament weighs millions in extra spending and tax changes

The Faroese parliament will consider a supplementary appropriations proposal with a projected deficit of 25.3 million kroner on Friday, KVF reported. Of that, 24.3 million kroner in net funding is for operating costs.

The proposal asks parliament to increase allocations for 27 budget accounts and reduce funding for a few others.

Government minister Jacob Vestergaard has also asked for up to 74.4 million kroner for four main engines for Smyril. The engines are due to be installed in 2028, but must be ordered now, the Ministry of Business Affairs says.

Parliament will also consider government proposals to amend tax legislation. The changes concern per diem and foreign income deductions, salary transfers, and deductions for trade union membership fees and social contributions in Nordic countries. They would cost just under 70 million kroner.

Friday’s session is scheduled to begin at 10 a.m. Its agenda includes six first readings and two second readings.