100 million in profits – the banks have margins “- Swedish Dagbladet

Magdalena Andersson thinks that banks are particularly favored fiscally Photo: Daniella Backlund

Along with the Left , the Government proposes that banks deductibility of interest on subordinated loans will be abolished . This would mean increased tax revenues of $ 1.4 billion annually, according to Finance Minister Magdalena Andersson (S) and Ulla Andersson (V), who wrote an article in Aftonbladet.

– We need more resources to child care and schools. This is a way for banks to be able to contribute to it, says Magdalena Andersson, to SvD.

Banks made hefty profits last year, so there should be space, she explains. Banks are also favored tax purposes, she says.

But the question is how safe the finance minister may be that the tax will actually be removed from the banks’ profits, and not only passed on to bank customers in the form of fees and interest.

– the four major banks was 100 billion in profits last year, so there are obviously a lot of margins. It is of course important that all of us who are bank customers are active and require banks to obtain the best interest rate, she said.

Are you saying that there are bank customers’ responsibility to ensure that the money is not taken from customers ?

– no, of course it is the banks’ thing not to worsen the conditions of their clients. But there are obviously margins of banks. They have also received very large tax cuts by the companies tax cuts that the previous government did.

The proposal will now out for consultation, and is expected to be included in the budget bill in the fall so that it can enter into force next year.

Bankers Association is not happy about the finance minister’s proposal.

“tax increase proposal for higher taxes on the subordinated loans is sadly at odds with the aspirations behind the crisis Directive. The newly launched crisis management rules place high demands on the loans in a crisis can be converted into equity, “writes Bankers Association CEO Hans Lindberg in a press release.

Bankers Association warns that the banks could be weakened by higher taxes.

“Higher taxes on subordinated loans will make it harder and more expensive to build a protective capital” writes Bankers Association.

But the tax increase is is not the only tax issue is timely for the banks. According to DN, so the major banks have the most money of all the tax account of Tax Office, and thus have little interest on their money like this in zero-interest periods.

– I do not think it’s good. Therefore, when we found out that it is unnaturally large deposits tax account, we decided to cut interest rates to zero. We do it as fast as we can.

How do you see that it is the banks that use tax account most?

– I think it’s ironic. It has never been the intention to use tax account in this way, says Magdalena Andersson.