Government pledges more income tax cuts

The government has pledged to introduce income tax cuts worth 10.8 billion kronor ($1.6 billion) at the beginning of next year.

Writing in Dagens Nyheter, the four party leaders promised that this second wave of income tax cuts, combined with the first, would result in a total increase of 1,000 kronor per month in take home pay for all those in gainful employment.

“We have hereby fulfilled an important promise from last year’s election campaign,” wrote Fredrik Reinfeldt, Maud Olofsson, Jan Björklund and Göran Hägglund.

The leaders also noted that the number of people employed in Sweden had risen by 131,000 over the course of the last year.

“Overall, by 2010 the development of household finances will entail a historic improvement in standards for large sections of Sweden’s low and middle income earners,” the leaders wrote.