Millionaires: Swedes ‘don’t work hard enough’

Swedes do not work hard enough - at least in the eyes of many millionaires. But the well-off readers of Connoisseur magazine do not consider that they themselves work too little.

In a survey of 1,100 Connoisseur readers, 43 percent said that in general Swedes worked too little. 42 percent thought the country was hard-working enough. Only 16 percent thought Swedes worked too much.

Connoisseur magazine is distributed for free to everyone in Sweden who declares an income over 1.1 million kronor a year or who has a declared net worth of at least 5 million kronor ($790,000).

The millionaires claim to be a hard-working bunch. 33 percent say they work 41-50 hours a week, with 22 percent working 51-60 hours. 11 percent say they work more than 61 hours per week. On top of their regular hours, 86 percent claim to be reachable for work even during their free time.

Despite this, only 35 percent said they wanted to work less, with 60 percent saying their hours were about long enough.

On matters of politics, the well-off respondents were supportive of Fredrik Reinfeldt’s centre-right government. Nearly half (48 percent) said the climate for companies in Sweden had improved since the government came to power.

Some 89 percent approved of the decision to raise tax on tobacco, 90 percent were in favour of changes to property tax, 74 percent applauded the government for raising fees for membership of unemployment insurance schemes.

Looking to the future, most of those asked (62 percent) said the US mortgage crisis would not affect the Swedish economy to a great extent. 52 percent thought that growth would be unchanged during the autumn, with 16 percent expecting rising growth and 32 percent expecting falling growth.