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Sweden Today

Swedish news in English

Wednesday, October 16, 2024

Sweden's Budget Sparks Controversy

Published: 2024-09-21

Sweden's latest budget proposal, presented by Finance Minister Elisabeth Svantesson, has sparked significant debate and criticism.

The budget, which spans 3,176 pages, claims to have defeated inflation, yet it has been labeled a failure by critics.

The primary contention lies in the allocation of funds, with 40% dedicated to tax cuts and only 15% to welfare sectors like healthcare, education, and social services.

This distribution has been criticized for favoring the wealthy, with high-income earners receiving substantial tax breaks, while pensioners and low-income groups see minimal benefits.

Critics argue that this approach neglects essential investments in welfare and fails to stimulate economic growth effectively.

The budget's focus on tax reductions over welfare spending is seen as a move that could prolong economic stagnation and unemployment, rather than revitalize the economy.