September 12, 2019 / 2:39 PM / 6 days ago

Sweden to cut taxes, boost benefits for pensioners in budget

Sweden's Minister of Finance Magdalena Andersson speaks after a government meeting in Harpsund, Sweden August 16, 2018. REUTERS/Daniel Dickson

STOCKHOLM (Reuters) - Sweden’s centre-left coalition will cut taxes and raise benefits for pensioners in its 2020 budget, a move that will cost 6.5 billion Swedish crowns (543.57 million pounds), Finance Minister Magdalena Andersson said on Thursday.

“We are now taking steps to boost the security of those who have built our country,” Andersson said.

Tax cuts for those over 65 will cost 4.3 billion crowns and higher pensions and housing support will cost an additional 2.2 billion crowns. The government publishes its budget on Sept. 18.

Reporting by Simon Johnson; Editing by Johan Ahlander

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