Sweden ahead of our neighbours: Borg

The Swedish economy can recover and reach surplus and a balanced budget before other European countries, according to Swedish Minister of Finance Anders Borg.

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As tax revenues are higher than anticipated at the same time spending is lower than expected there is an opportunity to meet the crisis head on.

“Then we can ensure our ability to address the crisis and at the same time regain balance and surplus before almost all our our European neighbours,” Borg said in his speech to delegates at the Moderate party conference in Västerås on Friday.

The most important thing to do is stop the drop in employment, which otherwise might lead to hundreds of thousands of people being out of the labour market for good, Borg said.

“The economic crisis will pass but it will take us a long time to get back on track and reverse the effects of the crisis,” Borg said.

According to Borg, Sweden is nevertheless well positioned for a quicker recovery due to the policies of the government. “Well ahead of the UK, US or Spain. Well ahead of other countries that listened to voices demanding more spending, more interventions and more emergency measures,” Borg said.

He reiterated that the government is not planning on assuming ownership of Saab.

Echoing the words of Prime Minister Fredrik Reinfeldt, Borg described Sweden as a role model for other countries.

“Our foremost task in the coming years might be to pave the way for Sweden to become a role model. People in Sweden should experience that they are living in a freer countries where individuals have great freedom to explore new paths and shape their own lives. Sweden should be open and tolerant,” Borg said.

“But we will never achieve social cohesion and good welfare for everybody without full employment. That is the mandate we are seeking from the voters for 2010,” he said.