Swedish govt plans $1 bln in income tax cuts in autumn budget

Sweden's minority, center-left coalition plans around 10 billion crowns ($1.16 billion) in income and other tax cuts in its upcoming autumn budget, Finance Minister Magdalena Andersson said on Wednesday.

"The tax cuts that we are presenting today are focused on low and middle-income households," Andersson said during a news conference.

The government has previously said it planned fresh spending and tax cuts worth 74 billion crowns in its 2022 budget.