Positive signals on future investments welcomed
Yesterday the governmentpresented several initiatives aimed at strengthening Swedish competitiveness, including an increase in the research budget and a reduction in the expert tax rate. These are positive announcements and measures that TechSweden and its member companies have worked for and welcome.
- The fact that the government is investing in research, reforms for entrepreneurship and to solve the skills shortage is welcome and crucial for Sweden to be a leading technology nation and stand up to global competition, says Christina Ramm-Ericson, Chief Economist at TechSverige.
Minister for Employment and Integration Johan Pehrson announced that the upcoming research and innovation bill includes an increase in the research budget to SEK 40 billion in 2028, which means a permanent increase of SEK 6.5 billion. The focus will be on cutting-edge research and innovation in strategic technology areas such as artificial intelligence (AI), quantum computing and biotechnology.
The government also announced that the salary level for the expert tax will be reduced from 2 to 1.5 price base amounts, which means that more international experts can be covered by the rules. This is something that TechSverige, together with other organizations, has highlighted as one of several necessary measures to make it easier for Swedish companies to attract top talent to Sweden. However, it should be emphasized that there is an ongoing investigation that, among other things, looks at the expert tax, which will report its final proposal on January 15, 2025. It is positive that this work is being anticipated to some extent and that this positive change for the business community is being implemented.
- "We have long pushed for a reduction in the salary level for the expert tax, and it is gratifying that the government is acting. The change also makes the Swedish rules more internationally competitive, which strengthens Sweden's attractiveness and can help to reduce companies' skills shortages in the long term," says Pia Högset, industrial policy expert at TechSverige.
- The fact that Prime Minister Ulf Kristersson is signaling that we are entering a new phase with major future investments and growth reforms is positive and we look forward to taking part in several concrete initiatives in the upcoming research and innovation bill later this autumn and the budget bill that will be put on the parliamentary table in just over two weeks, concludes Christina Ramm-Ericson.