June 7, 2018 / 2:22 PM / 3 months ago

Swedish parliament votes down bill to cap welfare firms' profits

STOCKHOLM, June 7 (Reuters) - Sweden’s parliament on Thursday voted down a bill to cap profits for companies working in the tax-funded welfare sector with opposition parties uniting against the minority centre-left government.

In January, the government of the Social Democrats and Greens proposed to limit profits for tax-funded private schools and elderly care providers to seven percent of operating capital plus the return on government bonds.

Such a cap would hit education firms like as Academedia and Engelska Skolan but also several private equity-owned firms.

The government had also planned to cap profits made by tax-funded healthcare companies, but dropped that part of the proposal earlier. (Reporting by Johan Sennero)

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