Sweden plans to hike defence spending by SEK5 billion a year, financed by bank tax

摘要

The Swedish government plans to increase defence spending by SEK5 billion (USD509 million) a year in 2022-25, financed by a bank tax, the finance and defence ministries announced in a press release on 31 August. This is in line with Sweden's cross-party defence committee's white paper presented on 14 May, which called for defence investment resulting in spending being increased to SEK84 billion, or 1.5% of GDP,by 2025.