Leroy Seafood Group is the latest salmon farmer to halt investments in Norway after the government proposed to increase taxes on salmon and trout farming by 40 percent last week.

The group is freezing its NOK 420 million (€39.9 million/$39.2 million) investment already under way to increase processing capacity at Skjervoy in Troms, Norway, as well as canceling a NOK 123 million (€11.7 million/$11.5 million) capacity expansion.

In 2022, Leroy purchased 614 metric tons maximum allowable biomass (MAB) under the country's so-called traffic light system for NOK 123 million (€11.7