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SWEDEN: Policies To Support Households Announced Ahead Of Sep 19 Budget

SWEDEN
CEEMEABulletSwedenGlobalFixed Income BulletsRegionMarkets

Finance Minister Svantesson announced SEK18bln of measures to assist households in 2025, which will be presented as part of the Autumn budget due on September 19. The policies will form part of the “around SEK60bln” of unfunded fiscal measures announced last month. As such, 10-year SGB spreads to Bunds are slightly tighter today (-1bps at -19.6bps at typing), and the SGB curve has bull steepened a little. 

  • Today’s announcement includes income tax cuts for those earning between SEK16k-40k per annum and lower taxes for pensioners (to be applied at the start of next year).
  • Svantesson also announced the introduction of a tax-free investment vehicle for households.
  • On Tuesday, the Finance Ministry also pledged SEK15bln of infrastructure funding for 2025-2027, as well as the abolition of a tax on air travel (also part of the aforementioned SEK60bln of fiscal measures).
  • The full budget will contain further details on the Government’s proposed measures, which will feed into the National Debt Office revised fiscal /issuance projections in November.
  • Tomorrow, we receive monthly budget balance data for August.
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Finance Minister Svantesson announced SEK18bln of measures to assist households in 2025, which will be presented as part of the Autumn budget due on September 19. The policies will form part of the “around SEK60bln” of unfunded fiscal measures announced last month. As such, 10-year SGB spreads to Bunds are slightly tighter today (-1bps at -19.6bps at typing), and the SGB curve has bull steepened a little. 

  • Today’s announcement includes income tax cuts for those earning between SEK16k-40k per annum and lower taxes for pensioners (to be applied at the start of next year).
  • Svantesson also announced the introduction of a tax-free investment vehicle for households.
  • On Tuesday, the Finance Ministry also pledged SEK15bln of infrastructure funding for 2025-2027, as well as the abolition of a tax on air travel (also part of the aforementioned SEK60bln of fiscal measures).
  • The full budget will contain further details on the Government’s proposed measures, which will feed into the National Debt Office revised fiscal /issuance projections in November.
  • Tomorrow, we receive monthly budget balance data for August.