DistantNews
Support us
🇸🇪 Sweden /Elections & Politics

Wallenberg warns opposition tax plans could hurt Swedish business

From Svenska Dagbladet · () Swedish

Translated from Swedish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • Jacob Wallenberg told the Financial Times that he is deeply concerned about opposition proposals he says could damage Swedish businesses.
  • He warned that Sweden could lose its leading position in startups and that established companies could also be affected.
  • Wallenberg criticized proposals involving greater state involvement, higher taxes and shorter working hours as harmful to competitiveness.

Jacob Wallenberg says Sweden’s business sector could be damaged if the left-wing opposition wins the election. “I am deeply concerned,” he told the Financial Times.

Wallenberg’s family foundations hold major stakes in companies including AstraZeneca, Ericsson, ABB and Saab. He said decades of business-friendly reforms introduced by both the left and the right are now at risk because of various opposition proposals.

I am deeply concerned.

· Jacob WallenbergWallenberg described his reaction to opposition proposals affecting business and taxation.

The business leader warned that Sweden could lose its world-leading position in startup companies. Established businesses could also suffer if the opposition takes power, he said.

The opposition has pointed to more state involvement, higher taxes in a number of different areas and also a discussion about working fewer hours. I am deeply concerned about these things.

· Jacob WallenbergHe outlined the opposition policies he believes could harm Swedish businesses.

Wallenberg pointed to proposals for greater state involvement, higher taxes in several areas and a debate about working fewer hours. “The opposition has pointed to more state involvement, higher taxes in a number of different areas and also a discussion about working fewer hours. I am deeply concerned about these things,” he said.

He added: “It seems counterintuitive that you become more competitive by working less and by making it harder for companies to develop.”

It seems counterintuitive that you become more competitive by working less and by making it harder for companies to develop.

· Jacob WallenbergHe criticized shorter working hours and measures he said could make it harder for companies to grow.
About this summary

Originally published by Svenska Dagbladet in Swedish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

More Stories

From Our Blog