January 19, 2018 / 11:11 AM / a year ago

Sweden's govt, Left party propose profit cap on welfare companies

STOCKHOLM, Jan 19 (Reuters) - Sweden’s centre-left government and the Left Party has agreed to put forward a bill for a profit cap on private schools and care homes funded by taxpayers, they said on Friday.

The proposed cap - on operating profit in relation to operating capital of 7 percentage points plus the risk-free rate - would hit education firms such as Academedia and Engelska Skolan as well as several private equity-firms.

However, the proposal will have slim chances to pass parliament as the minority government and the Left Party lack the necessary votes. All other opposition parties have previously vowed to vote against the proposal. (Reporting by Johan Ahlander; Editing by Daniel Dickson)

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