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POLITICS

Reinfeldt and Borg top Sweden power rankings

Prime minister Fredrik Reinfeldt and finance minister Anders Borg are Sweden’s two most powerful people for the second year in a row, according to a new ranking published on Friday.

Reinfeldt and Borg top Sweden power rankings

Claiming the number three spot in Fokus magazine’s annual ranking of Sweden’s most powerful people is Liberal Party (Folkpartiet) leader and education minister Jan Björklund.

Riksbank head Stefan Ingves (6) and Industrivärden holding company chair Sverker Martin-Löf (8) were the only two non-politicians among a top ten dominated by top names from centre-right political parties.

Sweden’s most powerful woman, according to the rankings, is justice minister Beatrice Ask (5), with Centre Party leader and enterprise minister Maud Olofsson (9) ranking as the country’s second most powerful female.

Altogether, 28 women are included on the list of Sweden’s 100 most powerful people, with newcomer Sofia Arkelsten, the Moderate Party’s new party secretary, making her debut in the rankings at number 11.

Every year, Fokus ranks Sweden’s power brokers using a number of criteria, including media penetration, formal power, informal power, and extraordinary power.

The 2010 rankings are dominated by politicians and political operatives, which together claim 35 of the top 50 spots on the list.

Social Democratic party leader Mona Sahlin dropped from third position in the 2009 rankings down to the 22nd spot in 2010 following her party’s election loss and her decision to step down as party leader.

Meanwhile, her counterparts from the other two political parties which made up the centre-left Red-Green coalition remain high on the list, with Left Party leader Lars Ohly claiming the 12th spot, followed by Peter Eriksson (13) and Maria Wetterstrand (14) of the Green Party.

Jimmie Åkesson, head of the far-right Sweden Democrats, climbed into the 15th spot in the 2010 Fokus rankings, up from 42nd place last year.

Crown Princess Victoria rose to 17th place from 23rd place, while her father, King Carl XVI Gustaf, also enjoyed a bump in the rankings, landing in position 37 after managing only 70th place in 2009.

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POLITICS

Full steam ahead for Swedish economy in new three-part budget bill

Sweden has won the fight against inflation and expects GDP to grow next year, Finance Minister Elisabeth Svantesson proudly proclaimed as she presented the government's budget bill for 2025.

Full steam ahead for Swedish economy in new three-part budget bill

“Going forward, the task will be to ensure that high inflation does not return, and at the same time to implement reforms and investments that build a more prosperous, safer and more secure Sweden for generations to come,” said Svantesson in a statement on Thursday morning.

The government predicts that Swedish GDP will grow 2.5 percent next year followed by 3.2 percent 2026.

Unemployment, however, is expected to remain unchanged at 8.3 percent in 2025, only beginning to drop in 2026 (7.9 percent, according to the government’s predictions, followed by 7.6 percent in 2027).

Svantesson told a press conference that a strong focus on economic growth would create jobs.

The 2025 budget, worked out in collaboration between the right-wing government coalition and far-right Sweden Democrats, is far more expansionary than the restrained budget Svantesson presented last year when Sweden was still fighting high inflation: 60 billion kronor towards new reforms rather than 39 billion kronor for 2024. Almost half, 27 billion kronor, will go towards funding lower taxes.

ANALYSIS:

Svantesson highlighted three areas in which new reforms are prioritised:

  • Strengthening household purchasing power after several years of the high cost of living putting a strain on household budgets, with reforms set to push the tax burden to its lowest level since 1980, according to the government.
  • Reinstating the “work first” principle, meaning that people should work rather than live on benefits. Some of the measures include language training for parents born abroad and increasing the number of places in vocational adult education.
  • Increasing growth, focusing on investments in research, infrastructure and electricity supply.

In the debate in parliament on Thursday, the centre-left opposition is expected to criticise the government for lowering taxes for high earners and not investing enough in welfare. 

Investments in healthcare, social care and education are significantly reduced in this budget compared to last year: down from 16 billion kronor to 7.5 billion kronor. 

Meanwhile, the hike of the employment tax credit (jobbskatteavdraget) – a tax reduction given to people who pay tax on their job income – is expected to lead to a 3,671 kronor tax cut for people on the median salary of 462,000 kronor per year.

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