Minister wavers over tax

The outlook for the proposal of a new financial tax is not looking bright. After heavy criticism Finance Minister Magdalena Andersson is wavering.

Critics believe the tax would affect 318,000 companies, compared to the 10,700 that are actually active within the financial sector, according to the Swedish Tax Agency (Skatteverket).

Magdalena Andersson said on Tuesday, “Given that it has such a wide impact, it is uncertain that it would fulfil its task.” She says the responses to the proposal will now be looked at in detail but she is not ruling out the idea of a banking tax. “We want the banks, in one way or another, to be able to contribute more,” she says.