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Sweden’s main opposition party is proposing a windfall tax on the “excess earnings” made by the country’s lenders, adding to investor concern that European banks could face stiffer taxes as politicians seek support for households squeezed by inflation.
The Social Democrats are pitching a temporary tax on net interest income in their shadow budget for 2024, the party said in a statement Tuesday, estimating it would bring in a total of 10 billion kronor ($902 million). The statement noted that lenders have been slow to pass on interest rate rises to savers.
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