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Sweden's prime minister Fredrik Reinfeldt said he will seek to lower corporate taxes to boost the potential of the largest Nordic economy, according to Bloomberg.
“It’s about using our capacity to build a strong Sweden in the long-term and to invest and equip ourselves to protect jobs and get more jobs and more investors to come to Sweden,” Reinfeldt said.
He will also raise spending on infrastructure projects and research next year and lower corporate taxes to boost the potential of the largest Nordic economy, he told reporters at a press briefing on a boat in the Stockholm archipelago.
A government-appointed commission recently recommended that Sweden should reduce payroll taxes by more than half for businesses in deprived areas to create more jobs and lower unemployment.
“The purpose of the measure is to stimulate the establishment of new companies and give existing companies better opportunities to grow in deprived areas,” Christer Sjödin, head of the commission, said in a statement.
Strong exports drove a stellar performance for Sweden's economy in the second quarter, shrugging off the effects of the euro zone debt crisis and supporting the central bank's view there is no need to cut interest rates.
Last Updated (Sunday, 19 August 2012 15:43)