Shadow Budget Presented

The Opposition Social Democrats presented their shadow budget Friday, over a fortnight after the official budget from the government.

The Social Democrats say that if they had been in government they would have hiked taxes for higher earners, cut national insurance contributions and raised the level of unemployment benefit. They would also reverse the tax cuts introduced by the government.

Finance minister Anders Borg was not impressed though, saying it was an underfinanced budget that would lead to overheating in the economy and lead to higher unemployment.

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