Denmark Agrees to Let Banks Fund Early Retirement for Workers
- Majority in parliament supports controversial $318 million tax
- Extra levy put on banks and pension funds to pay for plan
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The Danish government’s plan to fund early retirement for some workers by introducing an extra tax on the financial industry has gained enough support among opposition parties to be turned into law next year.
After negotiations into the early hours of Saturday, the Danish Social Democrat-led government announced this morning that it had reached an agreement with opposition parties to support the proposal. This means there is now a majority in the parliament to add 2 billion kroner ($318 million) worth of additional annual taxes on the financial sector to strengthen pension rights.