Budget proposal promises 900 millon SEK investment in Sweden’s suburbs

"Historic" budget spends billions on work and welfare

"Historic" budget spends billions on work and welfare

Sweden’s finance minister today presents what she calls a "historic" budget of over SEK 100 billion, with many measures relating to the corona crisis.

Social Democrat finance minister Magdalena Andersson says the country is in a unique situation, and this budget aims to take Sweden through the crisis and re-start the Swedish economy. She says the budget is historic in its size.

This year’s budget proposal is around three times as big as in a normal year. Some of the money is expected to come from the EU Recovery Fund. Many of the individual plans have been released by the government and its parliamentary partners over the past few weeks.

Analyst: Sweden’s draft budget historic but also expensive

The government is describing its draft budget for 2021 as "historic" and "powerful". One analyst agrees but says it’s also an expensive one.

The government’s proposal, which was negotiated with the Liberal and Centre parties, would inject an extra SEK 105 billion into the Swedish economy as it battles the coronavirus pandemic.

Jens Magnusson, who works in personal finance at Sweden’s SEB bank, says it makes sense for the country to boost spending during a crisis. But, he adds, much of that is financed by increasing the national debt.

Budget proposal promises 900 millon SEK investment in Sweden’s suburbs

Of the more than SEK 100 billion the government promises to pump into the Swedish economy next year, SEK 900 million of that has been set aside for the nation’s so-called "vulnerable areas".

In a proposal championed by the centre-right Liberal Party, these places would get more money to do things like attract better teachers, fight crime, or help kids in troubled homes.

The plan is called "förortslyft", which literally means suburban boost. And its in the suburbs of Sweden’s urban centres where many vulnerable areas can be found. They are defined by the police as neighbourhoods with higher rates of unemployment, crime and immigration as well as social exclusion and segregation.

For the Liberals, their proposal would focus a variety of areas like schools, Swedish language training and child care. The investments would also span the next three years. But is it enough?

Swedish Radio

"Historic" budget spends billions on work and welfare السابق

"Historic" budget spends billions on work and welfare

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