Current Events > Riksdagen has voted yes to the budget and new financial framework

(+) Yeah! (+)

https://live.aftonbladet.se/supernytt/news/groent-ljus-fraan-riksdagen-foer-budgetramar.f2yHzea-k?utm_source=share-btn

In Sweden the Government, aka the PM and his/her administration, drafts the budget biannually and Riksdagen votes on the budget. Large chunks are left the same each year but it is the major investments and changes in taxation which focus is on.

Only a handful of the 349 MPs are present in Riksdagen because of the pandemic (the temporary number represents the same balance of power).

27 voted yes.
11 voted no.
18 abstained.

There are 105 billion SEK in investments which is very high but these are unprecedented times. This is the first budget the Lfven admin presents (Lfven has been PM since October 2014) where the spending is higher than the income (a deficit of 67 billion SEK). Our National debt is very low so the Government is able to borrow money at a good interest rate though and the prognosis is that the budget will be back on a surplus by 2023.

24 billion SEK are investments for the households like: tax cuts for working Swedes and retired folk and the temporarily extra generous unemployment benefits.

20 billion are for businesses with stuff like: lower employee fees, money for furloughing and higher sick leave costs.

Healthcare and elderly care are getting huge investments.

The spending cap for 2020 is 1743 billion SEK.

1695 billion for 2021.
1634 billion for 2022.
1539 billion for 2023.


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@scar_the_1 @FF_Redux @Foppe @ROBANN_88

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It's worth keeping in mind that "investments" in the public sector always look bigger than they are, because of the produktivitetsavdrag.

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scar the 1 posted...

It's worth keeping in mind that "investments" in the public sector always look bigger than they are, because of the produktivitetsavdrag.

Yeah, that is an abomination tied to the Neoliberal ideas of New Public Management I believe.

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BalanceLost posted...

https://live.aftonbladet.se/supernytt/news/groent-ljus-fraan-riksdagen-foer-budgetramar.f2yHzea-k?utm_source=share-btn

There are 105 billion SEK in investments which is very high but these are unprecedented times. This is the first budget the Lfven admin presents (Lfven has been PM since October 2014) where the spending is higher than the income (a deficit of 67 billion SEK). Our National debt is very low so the Government is able to borrow money at a good interest rate though and the prognosis is that the budget will be back on a surplus by 2023.

24 billion SEK are investments for the households like: tax cuts for working Swedes and retired folk and the temporarily extra generous unemployment benefits.

20 billion are for businesses with stuff like: lower employee fees, money for furloughing and higher sick leave costs.

Healthcare and elderly care are getting huge investments.

The spending cap for 2020 is 1743 billion SEK.

1695 billion for 2021.
1634 billion for 2022.
1539 billion for 2023.

If a Democrat tried to raise taxes, it would probably lead to a Civil War in America.

But a certain businessman with orange hair, orange skin, and absolutely no idea about fiscal management was able to cut taxes by $1.3 Trillion over 10 years and give business a tax break. While it increased the defecit about $1.4 Trillion over the same 10 years.

And then COVID19 hit, and our govt borrowed an additional $3.1 Trillion in the past 8 months.

THIS IS AMERICA.
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BalanceLost posted...

Yeah, that is an abomination tied to the Neoliberal ideas of New Public Management I believe.

It is, but it's been around since the '90s and the center left has played with it as well. Which is frustrating.

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scar the 1 posted...

It is, but it's been around since the '90s and the center left has played with it as well. Which is frustrating.

I very much agree.

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