The Icelandic parliament, Althingi, concluded its September session on Saturday. The government was unsuccessful in having all of its bills passed yet 20 new legislations were approved on the parliament’s last day of work.
Inside Althingi. Photo by Páll Kjartansson.
Among these legislations was one on capital controls. The government had intended to extend capital controls for four years but due to criticism from the opposition a compromise of two years was reached, Fréttabladid reports.
The authority to determine the number of ministries will remain in the hands of parliament but not be shifted over to the Prime Minister’s Office as assumed by another bill.
Other bills that were passed included one giving the state-run Housing Financing Fund the authority to offer non-indexed mortgages and the value added tax (VAT) of eBooks was lowered to seven percent.
Click here to read more about capital controls.