POLITICS

Opposition to bring back Wealth Tax

Sweden's centre-left opposition plans to bring back a "wealth tax" if it gains power at the polls in September, with a reported higher income tax for those people earning over 40,000 kronor a month (5,500 dollars.)

Swedish broadcaster SVT said on Wednesday that the centre-left coalition would present plans for a new wealth tax in its own set of budget proposals due to be unveiled on Monday.

"Yes it (a wealth tax) will be included on Monday," said Ulla Andersson, an economic policy spokeswoman for the Left party, one of three parties in the Social Democrat led opposition coalition.

The previous wealth tax, which levied a 1.5 percent charge on an individual's assets above 205,000 dollars, was abolished in 2007 by the Conservative-Moderate led government which came to power in 2006.

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