Sweden has been strengthening its armed forces and is concerned about increasing tensions with Russia in the Baltic region. Last year, Sweden said it would buy the Patriot air defence missile system from US arms manufacturer Raytheon Co in a 10 billion crown deal. "The extra (for defence) for 2022 will be financed by an increase in taxes on the financial sector from 2022," Andersson told reporters.
"The banks make big profits each year and have been big winners from corporate tax cuts in recent years," she said. She said the levy would bring in an extra 5 billion crowns per year. Andersson gave no details on how the tax would be constructed. The Social Democrats have repeatedly raised the idea of a bank tax since taking power in 2014. In 2017 they put such plans on hold after widespread criticism of the way the tax was structured.