Sunday, February 5, 2017

Andersson: record profits on mortgage loans are talking to the bank – Svenska Dagbladet

finance Minister Magdalena Andersson (S) has found a, in her opinion, good arguments for the bank tax. Photo: Fredrik Sandberg/TT

the Bank after the bank are continuing to report increased interest income. It is partly an effect of the fact that the swedes borrowing more, but is also due to the banks increase their profit margins, especially on mortgages, according to finansbolagens financial statements that are presented in days.

And even if the mortgage is rekordbilliga in a historical perspective, it shows the Swedish financial supervisory authority’s periodic reports to the banks ‘ profitability on housing loans are at record levels.

this gives minister of finance Magdalena Andersson of extra fuel for the proposed tax on banks:

” It is clear that the Swedish banks earn very big money and it also shows that there is room to take out a bank. You can discuss how it should be designed, but it is obvious that space is available, ” she says.

“We see a lot of need in welfare, and I think that some money would be able to move from big banks to the school benches,” continues Andersson.

the Banks are hardly, the plan is now in place for major workforce reductions, since the tax is scheduled to be on the lönesummorna.


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SEB’s ceo Annika Falkengren is upset over the proposed tax on banks. Photo: Christine Olsson/TT

According to SEB, the tax cost of the private bank 700 million per year. Swedish staff will be 15 per cent more expensive, it is clear it will have an effect on the number of employees, according to the SEB head Annika Falkengren, who is also head of the bankers ‘ Association.

” Can you really do this when you control a country? What is the next industry that you as well as think needed pulled? she asks.

Magdalena Andersson points also in the competition and the importance of being able to play off banks against each other:

– It is important that there are active consumers, who are looking to switch banks if you don’t get the interest rates that you find reasonable. It is important to be active and choose something else if you are not happy, ” says the minister of finance.

She encourages to compare the banks ‘ lending conditions, to talk with neighbors and friends and hear what they have for the rates, and then change banks if the conditions are better elsewhere.

Speaking of the competition in the banking sector, she says:

– Therefore, I think it is completely wrong to sell SBAB, as a part of bourgeois parties want to. It is a government bank that can compete.

the Facts: the Proposal in brief

the financial industry pays no vat. The tax losses are estimated to around sek 19 billion in 2018.
Therefore, suggested to the investigation that was presented to the government in the fall, a financial tax based on payroll costs. The tax rate is proposed to be 15 per cent of the tax base.
the Tax is expected to be passed on the prices of financial services and probably also on the wage and salary earners.
the Tax is proposed to take effect from 1 January 2018.
Source: Swedish government official reports, SOU 2016:76

see also

New bankskatteförslag affects SEB hardest

tax on banks

the bankers ‘ raging against the new tax: 10 000 jobs are under threat

tax on banks


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