Bloomberg said that Sweden's government plans to cut taxes for wage earners and pensioners to stimulate demand in the export-reliant Nordic nation as economies slow abroad.
“It’s the necessary thing to do,” Prime Minister Fredrik Reinfeldt said. “We should use the strength of the Swedish economy to inject energy, to make sure that we protect the Swedish economy in a situation where demand for Swedish goods is weak.”
A reduction would cost 16 billion kronor ($2.5 billion) and mark the fifth cut to taxes for wage earners since the government came to power in 2006, Reinfeldt told reporters at a press conference, Bloomberg reports.
Last Updated (Tuesday, 20 August 2013 00:37)