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Aug 20, 2014

Sweden election favorites eye more taxes on rich

STOCKHOLM (Reuters) – Sweden’s main center-left opposition party, leading in opinion polls, will reverse eight years of tax cuts by raising the burden by 1 percentage point of GDP if it wins next month’s election, the likely new finance minister said.

Magdalena Andersson, the party’s economics spokeswoman and widely tipped for the finance post after the Sept. 14 vote, said taxes – including a new levy on banks and the top rate of income tax reaching around 60 percent – would be raised over two years to pay for more welfare spending.

Aug 20, 2014