Banks will be less willing to lend after salmon tax kicks in, says investment exec

Banks may be less inclined to lend money to Norway's salmon farming industry as a consequence of the salmon tax, a bank manager for marine industries at SpareBank 1, told IntraFish.

"When offering loans, we look at customers' ability to service them," said Per Martin Olsen. 'This means net cash flow. And with a 35 percent resource rent tax, businesses will have less to work with. The consequence may be that banks will no longer be as willing to lend as before."