Hereditary Kingdom of Norway same evening, choosing the name Haakon, a traditional name used by Norwegian kings. The last king with that name had been Haakon VI, who died in the year 1380. The new king therefore became Haakon VII, King of Norway. His two-year-old son Alexander, the heir apparent, was renamed Olav and became Crown Prince Olav. The new royal family arrived in the capital Kristiania (later Oslo) on 25 November. Haakon VII was sworn in as king of Norway on 27 November. The early years of the new Norwegian monarchy were marked by a shortage of funds. The Norwegian state was poor
State budget of Norway State budget of Norway The State budget of Norway () is a budget passed by the Norwegian legislature, Stortinget, each year. It accumulates all income and expenses for the Government of Norway. The document defines the taxes to be collected, and what expenses will be accomplished. The budget follows a fiscal year of January 1 to December 31. The proposition for the budget is made by the Ministry of Finance in the first week of October. This proposition is named "Storting Proposition no. 1" or "Yellow Book" and is the governments suggestion for a budget. It is then considered by