Finance market minister Niklas Wykman warns against the opposition's proposal for a new bank tax. According to him the tax could lead to higher mortgage costs for Swedish households.
The Moderate Party has criticised the shadow budgets of the Social Democrats and the Left Party that include a tax on banks' excess profits. Wykman argues that the proposal would hit homeowners hard.
He estimates that many families could face up to 800 kronor in higher expenses each month. According to the minister this represents irresponsible economic policy that does not solve the problems of high mortgage rates.
Wykman describes the proposal as a 'wolf in sheep's clothing'. He also points to other tax ideas from the left side such as property tax, removal of the RUT deduction and higher tax on investment savings accounts.
At the same time Wykman stresses the importance of profitable banks that contribute to economic stability. He urges banks to invest more in security and to increase competition in the sector.
