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'Swexit would cost Sweden 73,000 jobs': report

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'Swexit would cost Sweden 73,000 jobs': report
The majority of Swedes support EU membership. Photo: AP Photo/Vadim Ghirda
08:21 CEST+02:00
Leaving the EU would damage Sweden's growth, competitiveness and welfare, writes Andreas Hatzigeorgiou, chief economist at the Stockholm Chamber of Commerce, in an opinion piece.

In an article in the Dagens Nyheter newspaper, Hatzigeorgiou refers to a report by British analyst firm Oxford Economics, which claims it would result in 73,000 fewer jobs in 2031 and a four-percent drop in GDP if Sweden were to follow in Britain's footsteps and vote to leave the European Union.

The report also suggests that Sweden would become less open both in terms of trade and investment outside of the EU, which the economist argues would have a detrimental impact on productivity.

"Swexit would reduce the supply of labour from the EU, which would likely reduce the (overall) supply of labour and make it more difficult for businesses to find the right skills. Overall, this impedes growth," writes Hatzigeorgiou in the opinion piece, published on Thursday.

Out of the eight Swedish parties currently represented in parliament, only the Sweden Democrats are calling for a referendum on Sweden's EU membership. The Left Party is also opposed to membership in principle, but is not actively campaigning for quitting the union, instead hoping to reform it.

But Swexit supporters will find it difficult to convince the rest of the population.

Several polls in recent years suggest that the majority of Swedes are still in favour of EU membership – in fact support for the EU in the Nordic nation has even surged in the wake of Brexit turmoil in the UK.

 

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