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Norwegian government proposes increase in crown prince's annuity.

NORDIC BUSINESS REPORT-9 May 2002-Norwegian government proposes increase in crown prince's annuity (C)1994-2002 M2 COMMUNICATIONS LTD

The revised national budget that was unveiled in Norway on Tuesday (7 May) proposes a rise in the annual civil list annuity of Crown Prince Haakon from NOK2.5m to NOK4.5m.

The suggested increase is meant to help keep the heir to the Norwegian throne in worthy accommodation, according to the Norwegian newspaper Aftenposten. The prince and his wife want to move to London in the second half of the year for a study term and they are expected to live in an exclusive neighbourhood of the city, for instance Notting Hill or Holland Park, where rents are high.

The couple could also use some of the annuity for the renovation work at the estate in Asker. The renovation is estimated to cost NOK18m.

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Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EXNO
Date:May 9, 2002
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