Ola Skjåk Bræk, Norwegian banker and politician, Norwegian Minister of Industry (d. 1999)

Ola Skjåk Bræk (1912–1999) was a distinguished Norwegian banker and influential politician from the Liberal Party (Venstre), whose career significantly shaped Norway's post-war economic landscape and its approach to natural resource management. Born in Eidsvoll, a historically significant municipality in Akershus county renowned as the site of the 1814 Norwegian Constitution signing, and passing away in Trondheim, his life spanned a period of profound transformation for Norway, from reconstruction after World War II to the dawn of the oil age.

Early Life, Education, and Family Background

Born on February 4, 1912, Ola Skjåk Bræk was the second child of Gudbrand Bræk and Elisabeth Fischer. His father, Gudbrand Bræk, was a prominent local banker who managed Eidsvoll Sparebank, the savings bank in their hometown, and was also instrumental as a co-founder of Bøndernes Bank, a significant financial institution with strong ties to Norway's vital agricultural sector. This familial background instilled in Ola an early and practical understanding of finance and the intricacies of economic development at both local and national levels.

Skjåk Bræk pursued higher education at the esteemed University of Oslo, Norway's oldest and largest university, where he studied law. He successfully earned his cand.jur. degree in 1935, a rigorous professional law qualification in Norway equivalent to a Master's degree in law, which laid a robust foundation for his meticulous approach to both banking and public policy. He married Ingeborg Wergeland, a notable peace activist, whose dedication to social causes complemented his own public service. Their family life produced several accomplished individuals, including their daughter Lise Skjåk Bræk, who became a renowned fashion and costume designer, adding a vibrant cultural dimension to the Skjåk Bræk legacy.

A Distinguished Career in Norwegian Banking

Ola Skjåk Bræk's professional life was largely defined by his significant contributions to the banking sector, particularly in Western Norway. In 1950, he made a pivotal move to Ålesund, a major port and fishing city celebrated for its unique Art Nouveau architecture. Here, he assumed the demanding role of president for Aalesund Nye Kreditbank, a vital savings and loan institution serving the dynamic coastal region of Sunnmøre. Under his leadership, the bank played a crucial role in facilitating regional economic growth during Norway's post-war reconstruction and expansion, providing essential capital for local industries like fisheries and shipping.

His tenure at Aalesund Nye Kreditbank continued until 1979, with a brief leave for his time in the cabinet. This long-standing commitment underscores his dedication to the financial health and development of the region. Aalesund Nye Kreditbank eventually became an integral part of Sunnmørsbanken, reflecting the broader trend of consolidation within the Norwegian banking landscape in the latter half of the 20th century. Sunnmørsbanken itself later merged into Christiania Bank og Kreditkasse, which eventually became part of the Nordic financial giant, Nordea. Following his retirement from banking, Ola Skjåk Bræk relocated to Trondheim, a significant cultural and educational hub in Central Norway, where he spent his later years.

A Pivotal Figure in Norwegian Politics: Minister of Industry

Skjåk Bræk's political involvement was deeply rooted in the Liberal Party (Venstre), a historically significant political force in Norway known for its centrist and social-liberal policies. He served as a deputy representative (vararepresentant) to the Norwegian Parliament (Storting) for Møre og Romsdal, the county where Ålesund is located, during two distinct terms: 1965–1969 and 1973–1977. This role as a substitute member, stepping in when the primary representative was absent, provided him with valuable parliamentary experience and direct insight into national policymaking processes.

His most prominent political role came when he was appointed Minister of Industry in the centrist coalition cabinet formed by Lars Korvald of the Christian Democratic Party. This appointment, spanning from October 1972 to October 1973, occurred during a period of intense political upheaval in Norway. The Korvald Cabinet was formed in the immediate aftermath of Trygve Bratteli's Labour Party government resigning, a direct consequence of the resounding "No" vote in the 1972 referendum on Norway's proposed accession to the European Economic Community (EEC), the precursor to the European Union.

The 1972 EEC Referendum and its Lasting Impact

The 1972 EEC referendum was a defining moment in modern Norwegian history, polarizing the nation and leading to significant political realignments. Ola Skjåk Bræk emerged as a staunch opponent of Norway's membership in the EEC, aligning himself firmly with the "No" campaign. His anti-EEC stance was consistent with his vision for Norway's economic sovereignty and the national control of its burgeoning natural resources, particularly the nascent oil and gas industry in the North Sea. He believed that joining the EEC would compromise Norway's ability to manage its resources and shape its own industrial policy.

The profound disagreement over EEC membership led to a historic split within the Liberal Party (Venstre) in 1972. The pro-EEC faction ultimately formed a new party, Det Nye Folkeparti (The New People's Party), while Skjåk Bræk, alongside the majority of the party, remained with the original Liberal Party (Venstre), which upheld the anti-EEC position. His decision to stay with the anti-EEC faction underscored his deep conviction and played a significant part in shaping the future trajectory of one of Norway's oldest political parties.

Advocate for Economic Development and Resource Management

Beyond his formal roles, Ola Skjåk Bræk was a tireless advocate for Norway's economic progress. He played an active and significant role in the comprehensive post-World War II economic development initiatives, particularly focusing on Western Norway. This era was characterized by robust reconstruction efforts, industrial expansion, and the establishment of the modern Norwegian welfare state. His professional and political interests converged on the responsible and appropriate utilization of Norway's abundant natural resources. This included not only traditional sectors like fisheries and hydropower but also the strategic management of the newly discovered and rapidly expanding oil and gas reserves, ensuring that these national assets primarily benefited the Norwegian people and supported long-term national industrial growth. His ministerial period was crucial in setting policies for the emerging petroleum sector.

Legacy and Memoirs

In 1990, Ola Skjåk Bræk chronicled his insights and experiences in his memoirs titled Hva brast så høyt? (ISBN 82-90330-50-2). The title, which literally translates to "What burst so loudly?", is an evocative reference to a line from Henrik Ibsen's renowned play Peer Gynt, often implying a sense of grand disappointment or the shattering of great expectations. In this influential work, he openly expressed a number of concerns regarding the direction and specific aspects of Norwegian economic policy, offering a critical perspective informed by decades of high-level involvement in banking and politics, particularly concerning the management of Norway's oil wealth. His memoirs provide valuable primary source material for understanding the economic debates and political landscapes of late 20th-century Norway, solidifying his legacy as a thoughtful and impactful public servant.

Frequently Asked Questions about Ola Skjåk Bræk

Who was Ola Skjåk Bræk?
Ola Skjåk Bræk (1912–1999) was a prominent Norwegian banker and politician from the Liberal Party (Venstre). He is primarily known for serving as the Minister of Industry from 1972 to 1973 and for his significant contributions to Norway's economic development, particularly in Western Norway, and his stance on natural resource management.
When was Ola Skjåk Bræk Minister of Industry?
He served as Minister of Industry in the Lars Korvald coalition cabinet from October 1972 to October 1973. His appointment occurred during a period of national political realignment following the 1972 referendum on Norway's potential accession to the European Economic Community (EEC).
What was Ola Skjåk Bræk's role in the 1972 EEC referendum?
Ola Skjåk Bræk was a staunch opponent of Norway joining the European Economic Community (EEC). His anti-EEC stance was a key factor in the historic split of the Liberal Party in 1972, with him remaining with the faction that retained the original party name and its position against EEC membership.
What was Ola Skjåk Bræk's background in banking?
He came from a banking family, with his father managing a local savings bank. Ola himself became a prominent figure in Norwegian banking, leading Aalesund Nye Kreditbank in Ålesund as its president from 1950 until his retirement in 1979 (with a leave for his ministerial duties), playing a key role in regional financial development.
Did Ola Skjåk Bræk write a book?
Yes, he published his memoirs titled Hva brast så høyt? (What burst so loudly?) in 1990. In this book, he shared his experiences and expressed his concerns and reflections on various aspects of Norwegian economic policy, particularly related to the management of national resources.