Swedish govt to boost job spending by $1 bln in autumn budget

Sweden's centre-left minority coalition said on Tuesday it would boost support for job creation, employment services and training by 8 billion Swedish crowns ($934.5 million) in its autumn budget.

Sweden's center-left minority coalition said on Tuesday it would boost support for job creation, employment services, and training by 8 billion Swedish crowns ($934.5 million) in its autumn budget. Finance Minister Magdalena Andersson outlined a 74 billion crown boost to the economy late last month in a budget aimed at fighting long-term unemployment, reversing climate change, and rebuilding the welfare state.

The job package includes training, help for recent immigrants to get a foothold in the labor market, and temporarily lower labor taxes for companies employing younger workers, among other measures. "Everyone should be a part of working Sweden out of the crisis," Labour Minister Eva Nordmark told a news conference.

Budget measures so far announced by the government include a 10 billion crown income tax cut and 3.9 billion to support a greener transport system. The coalition will publish its budget on Sept. 20, but needs support from the Left and Centre parties for the finance bill to pass parliament. The formerly Communist Left and the right-leaning Centre Party have widely different views on the priorities.

The Centre party has said it will not support the government if it negotiates the budget with the Left Party. Meanwhile, the Left has said its support depends on being able to influence policy. The government would likely step down if its budget does not pass. Further complicating matters, Prime Minister Stefan Lofven has announced he will step down in November with Finance Minister Andersson the front runner to succeed him. ($1 = 8.5605 Swedish crowns)

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