Löfven used his 15 minute speech to establish a principle of solidarity. He referred to "our moral commitment and our moral responsibility" to assist every single person.
"I want to create something which I call the Swedish Promise (Det Svenska Löftet). This is something in which you and I shall guarantee each other so that no person is left behind," he said.
Löfven explained that the newly-minted policy applies to three key areas: knowledge, security and equality.
"Knowledge is indeed power. And our society should be characterized by the will to empower everyone."
"When you are at your weakest, society's support should be at its strongest," he said before a modest crowd squeezed between the red cabins offering festive goods at the traditional Christmas market on the main square.
Löfven prioritized addressing the imbalance in life prospects due to a person's class, gender, sexuality and ethnicity.
"Equality should not be part of our past. The walls of Inequality will be demolished brick by brick. It is a task we will never neglect.
Stefan Löfven also reminded the crowd that ten years have passed since the tsunami disaster in Asia.
"Try to be there for those people who you think might be in need if (the anniversary) opens old wounds," he said.