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Battle Over Bank Tax Flares Up in Sweden as Legality Contested


May 27 2021, 10:46 AM
May 26 2021, 9:30 AM
May 27 2021, 10:46 AM
(Bloomberg) Sweden’s banks are gearing up for a fresh fight with their government to try to block a proposal that singles out the financial industry for an extra tax.
(Bloomberg) Sweden’s banks are gearing up for a fresh fight with their government to try to block a proposal that singles out the financial industry for an extra tax.
The Social Democrat-Green coalition government has long made clear it intends to impose a levy on banks, which it argues represent a bigger risk to economic stability than most other industries.
“We have seen a financial crisis that has cost enormously, so it’s not unreasonable that the banks get to contribute,” Asa Lindhagen, Sweden’s minister for financial markets and a member of the Green Party, said in an interview on Tuesday. She also said there’s little to indicate that the industry can’t afford such a levy. “Th ....

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