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There is a glow after the crown, it is the message of the finance minister.
When Sweden eased its restrictions, there should be money for a substantial restart package.
– We want to be able to start the economy, says Magdalena Andersson (S), in an interview about the future after the crown crisis.
Coronapandemin has put Sweden under intense pressure. People lose loved ones, healthcare kneels, and businesses fight for their survival.
For Magdalena Andersson, this has resulted in unusually long hours of work.
– Obviously I work a lot, normally I do too, but it has been very intense now that I have submitted five additional amending budgets and the spring bill, she says.
Measures have been developed such as short-term permits, opportunities for companies to postpone tax payments, and lower fees for employers in an attempt to mitigate the effects of the pandemic.
And the price has been high so far.
Until April 15 of this year, when the spring budget was presented, measures related to the crown crisis of SEK 107 billion had been proposed. But the price can be significantly higher than that. Short-term permits alone are estimated to cost more than SEK 50 billion.
In total, the spending limit is raised by SEK 350 billion to allow more room for investment if necessary to deal with the virus outbreak.
Photo: Lotte Fernvall
Finance Minister Magdalena Andersson (S) has not been tested for covid-19. He has no contact with his mother, whom he calls every day.
Young people cover up
But it was also about efforts to prevent people from losing faith in the future. How to expand places of education so that young people come out of the crisis.
– If this is something I think about a lot in this situation, it is the future belief for our young people. Especially those who have just finished high school or college and are going to take their first steps in the job market and then end up in the middle of it.
Many of those who had planned to work or travel can now sit on the school bench, says the finance minister.
– Although that was not what you intended, there are opportunities. And it is also important to say that there are jobs. Agriculture and forestry warn of a large labor shortage. And there are also a lot of announcements about jobs for the elderly.
Magdalena Andersson does not hide that, until now, the government and the associated parties MP, C and L have been quick to develop measures to face the crisis, instead of making sure that everything has been illuminated from all aspects.
Nor does it rule out that more effort is required.
– We are monitoring development very closely and we are looking to see if we need to take additional measures here and now.
Tears start for the economy
At the same time, it’s important to take a look at what will happen after the crisis, because that day will come, says Andersson.
– There are voices in the debate who think that you should throw away so much money at first, but here it is important to think long term.
– We also want to be able to have resources for a substantial reset package when the worst crisis is over.
To start the economy, you want to see green investments and investments in industries like healthcare and healthcare. But also incentives for people to start consuming again.
When that can come true, Magdalena Andersson cannot respond. It depends on how long and deep the crisis is.
But she believes it is closer in time than a coronavirus vaccine, which can take several years. Rather in relation to the removal of Swedish restrictions.
Too stingy
Before the pandemic, Magdalena Andersson was accused of being too lenient on state money.
Today he is happy to have resisted.
– With the economy we have, there is absolutely no reason why money should be what prevents the purchase of protective equipment or the care of the sick. The deficiencies that have occurred now are due to the fact that many people in the world want material at the same time, not that we don’t have money to buy.
– Sweden entered into this with the lowest government debt since 1977, so we will be able to finance medical care related to covid-19. There, money will not be a problem.
Photo: Mirjam Kontio / Government offices
Magdalena Andersson is interviewed by Anette Holmqvist during video calls.
Industries can be eliminated
But money can be an obstacle to something else, admits Magdalena Andersson.
For example, the crisis measures that have been developed should be considered temporary.
– If it lengthens, there are actions that we are taking now that cannot be as long as possible. They are meant to be a business opportunity for companies, she says.
The Minister of Finance believes that it may be difficult in the future for companies that have had difficulties even before the pandemic.
This is, for example, about trading, where a shift to more online shopping had already started. He believes that other industries will be easier to recover. There it includes both restaurants and the entertainment industry.
But even though it now seems dark, the finance minister thinks that many have it much worse. Not least several EU countries.
“Those who entered this crisis with large budget deficits and very high government debt are in a completely different situation,” he says.
Applied for loans
Magdalena Andersson remembers a time when Sweden was in a similar situation.
During the crisis of the 1990s, his then boss, Göran Persson, as finance minister, later prime minister, was forced to go to New York to apply for a loan.
– We had to go to Wall Street and convince international investors that Sweden was a country that could pay what we wanted to borrow. Today we are not there, now we have a completely different situation.
Finance Minister Magdalena Andersson (S) on:
• She has been tested for covid-19:
– No.
• You think she had the infection:
– I do not know. But I have had no symptoms.
• What is missing now:
– I have a mother who is 80 years old and cannot know her in the same way as before. I miss that contact. It means a lot to me. But I call her every day, even when it’s not crown time.
• What she wants to send to the Swedish people:
– Wait. Wait! It is important to remember that this can be quite lasting, it should be expected even if there are flashes of light in the sky and a subsequent glow, so we have to endure here and now. Follow the precautions we have, keep your distance, wash your hands, and work from home if you can.
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