Central government budget

In light of the severe financial impact the COVID-19 pandemic has had on many sole traders, the Government is now proposing SEK 3.5 billion to support these companies in 2020. The Budget Bill for 2021 proposes that an additional SEK 1.5 billion be set aside for 2021. It is proposed that the Government’s proposals, which build on an agreement between the government parties, the Centre Party and the Liberal Party, enter into force as soon as possible.

Minister for Finance Magdalena Andersson today presents the Ministry of Finance’s latest economic forecast and the focus of the autumn Budget Bill.

The COVID-19 pandemic has had a serious impact on economic growth, both in Sweden and the rest of the world. GDP growth has been revised downwards compared with the assessment made in the Spring Fiscal Policy Bill. However, recently there have been some signs of recovery, albeit from a very low level and with great uncertainty. This is clear from the Ministry of Finance’s most recent economic forecast, presented today by Minister for Finance Magdalena Andersson.

As a consequence of the COVID-19 pandemic, the Government, the Centre Party and the Liberal Party are today presenting new measures. A boost for care of the elderly is being implemented that means that employees in care of the elderly will be offered paid education and training during working hours. This will lead to more permanent positions.

The Government, the Centre Party and the Liberal Party today presented an additional measure to mitigate the impact of the virus outbreak on Swedish jobs and businesses. The measure involves reorientation support totalling SEK 39 billion.

The Government is relaunching an initiative for green jobs for people who are far from the labour market. The initiative is aimed at mitigating unemployment linked to the ongoing outbreak of COVID-19. SEK 150 million has been set aside for 2020 and is part of the Government’s proposed Spring Amending Budget for 2020, which is based on an agreement between the Government, the Centre Party and the Liberal Party.

After the European Commission approved the Government’s state aid notification on Wednesday, the Government could today adopt an ordinance on a discount for fixed rental costs in vulnerable sectors as a way to mitigate the financial consequences of the virus outbreak. The new aid is based on an agreement between the Government, the Centre Party and the Liberal Party.

The COVID-19 pandemic is a serious threat to people’s lives and health. Serious economic consequences will follow in its wake. In five additional amending budgets, the Government, the Centre Party and the Liberal Party have presented proposals for active measures to limit the spread of the virus and mitigate the economic effects on society. Today, the Government presents the 2020 Spring Fiscal Policy Bill and the Spring Amending Budget for 2020 with additional measures. All of these measures total over SEK 100 billion.