‘Big Profits’ Justify New Bank Measures, Swedish Government Says
- New bank tax proposal comes after previous model was shot down
- Sweden also wants to raise fees for banks’ crisis fund
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Sweden’s government is putting forward a new proposal for a financial industry tax and will require banks to contribute more to a crisis fund as the administration argues lenders are making more than enough money to absorb the extra cost.
“Now that times are good and the banks are making big profits, we also have an opportunity to build defenses for the future and potentially worse times, and strengthen the financial system,” Financial Markets Minister Per Bolund said at a press conference in Stockholm on Saturday.