August 23, 2018 / 9:20 AM / 2 months ago

Swedish Finance Minister proposes extra tax on banks

* Andersson revives plan that govt put on hold last year

* National election scheduled for Sept 9

* Sweden election graphic: tmsnrt.rs/2LmSZFD

STOCKHOLM, Aug 23 (Reuters) - Banks with operations in Sweden should pay a supplementary tax, its finance minister said on Thursday, dusting off a proposal the government put on hold last year as a national election nears.

The centre-left minority government of the Social Democrats and Greens dropped the plan last year after broad consultations drew largely negative feedback. It subsequently said the measure would be redesigned.

Magdalena Andersson said the tax would be levied on both domestic and foreign banks. That would draw in Nordea, the Nordic region’s biggest bank, which is moving its headquarters to Helsinki from Stockholm.

The tax would add a maximum of 4 billion crowns ($437 million) per year to state coffers, Andersson said in an interview with national news agency TT. She gave no further details.

As presented under the previous proposal, the levy was intended to compensate for the fact that banks do not pay value-added tax.

According to opinion polls, the Social Democrats are heading for their worst ever election result on Sept. 9. They are running neck-and-neck with the Moderates, the biggest centre-right party, and just ahead of the populist, anti-immigration Sweden Democrats.

Andersson also said capital gains tax should be increased for top earners.

($1 = 9.1511 Swedish crowns)

Reporting by Johan Sennero; Editing by Simon Johnson and John Stonestreet

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