2025-10-222025/26:FöU3 · p.3FöUDefence
Investigation into state ownership, venture capital and state credits
State ownership, risk capital and credit guarantees for the Swedish defence industry
What's at stake: The decision affects how the Swedish defence industry, particularly smaller and innovative companies, gains access to capital to grow and develop new technology. A larger state role would, according to proponents, increase security-policy control over production that is critical to society, while the government's approach means new forms of support are first tested within the framework of ongoing initiatives.
Case texts and AI reasoning are AI-translated from the Swedish originals; the Swedish text is authoritative.
What the vote decides
The question is whether the government should now launch an inquiry into state ownership in weapons production and set up state credit guarantees and risk capital for the defence industry, or whether the government's ongoing work on an establishment and collaboration office and its review of export support should be allowed to continue without being pre-empted.
Yes Yes — the committee proposal
The committee shares the government's assessment that the defence market has high barriers that justify state support in various forms, and welcomes the establishment of a collaboration office for the defence industry and strategic capital at the Defence Materiel Administration. Since the committee does not want to pre-empt the government's ongoing work on business support and strategic capital, including the special inquiry into export support, it rejects the motions calling for a dedicated inquiry into state ownership and for state credit guarantees and risk capital.
No No — the reservations
Reservation 3 (V)
The reservation (V) calls on the government to launch an inquiry to secure strong state ownership in Swedish weapons production, arguing that decades of privatisation have made society more vulnerable and that key security-policy decisions should be made with a comprehensive perspective. The reservation also wants the state to provide risk capital to defence companies, particularly smaller ones, for example through bodies such as Norrlandsfonden, Inlandsinnovation and Almi.
Summarised from the committee report. Party labels in the summary come from the report, not from the vote.
What do the votes mean here?
Yes The committee proposal: rejecting the motions (keeping things as they are).
No Backing the counter-proposal: reservation 3 by V.
Abstain The party marks a position of its own that is not one of the two final alternatives.
What each plan points to — and how the party voted
For each party: the vote its own election manifesto and party programme point to in this case, next to how the party actually voted. A plan can only point to Yes or No; a party can also abstain.
| Plan | Vote | Confidence | Evidence | ||
|---|---|---|---|---|---|
| V | No | No 0/18/0/4 | follows the plan | confidence: high | explicit |
| S | No | Abstain 0/0/93/13 | departs from the plan | confidence: medium | not addressed |
| MP | No | Yes 15/0/0/3 | departs from the plan | confidence: low | not addressed |
| C | Yes | Yes 21/0/0/3 | follows the plan | confidence: medium | not addressed |
| L | Yes | Yes 13/0/0/3 | follows the plan | confidence: medium | derived |
| KD | Yes | Yes 17/0/0/2 | follows the plan | confidence: medium | not addressed |
| M | Yes | Yes 59/0/0/9 | follows the plan | confidence: medium | not addressed |
| SD | Yes | Yes 63/0/0/9 | follows the plan | confidence: low | not addressed |
Committee proposal
Parliament rejects the motions 2025/26:54 by Hanna Gunnarsson et al. (V) requests 6 and 7 and 2025/26:76 by Peter Hultqvist et al. (S) request 6.
Original (Swedish)
Riksdagen avslår motionerna 2025/26:54 av Hanna Gunnarsson m.fl. (V) yrkandena 6 och 7 samt 2025/26:76 av Peter Hultqvist m.fl. (S) yrkande 6.
Riksdag decision: During the defense decision period up to 2030, Parliament and the Government make major investments to strengthen and develop total defense. More companies and actors are needed to meet the defense's need for rapid innovation and increased production at reasonable costs and to successfully deliver qualified defense materiel to allied and partner countries. The Government has in a communication presented its defense industrial strategy. In the strategy, the Government accounts for the direction of work to strengthen Sweden's defense industrial base. The goal of the strategy is an innovative and competitive defense industry with high production capacity. Parliament decided to lay the communication aside, which means the matter was concluded.
Counter-proposals
- The counter-proposal wants to secure strong state ownership in Swedish defense industry and provide state venture capital to defense companies. (V) — Reservation 3
Plan vs actual vote
Every party, in chamber order: what its own plan pointed to, how it voted, and the reasoning behind both. Highlighted rows are where the two differ — but a vote that follows the plan is a result too, so the reasoning is there for every party.
The plan explicitly requires strong state ownership in weapons production precisely so that key security policy decisions are made with a holistic perspective.
Plan documents: party programme · 2022 manifesto
Reasoning and quotes
The plan explicitly requires strong state ownership in weapons production precisely so that key security policy decisions are made with a holistic perspective. The counter-proposal's investigation into state ownership in defense materiel production is thus exactly what the plan wants to see, and it aligns with the commitment to step by step strengthen collective ownership in key sectors of the economy. That the state also invests capital in smaller companies falls within the same line of retaking control of socially important activities.
Original (Swedish)
Planen kräver uttryckligen ett starkt statligt ägande i vapenproduktionen just för att säkerhetspolitiska nyckelbeslut ska fattas med ett helhetsperspektiv. Motförslagets utredning om statligt ägande i försvarsmaterielproduktionen är därmed precis det planen vill se, och den ligger i linje med åtagandet att steg för steg stärka det gemensamma ägandet i ekonomins nyckelsektorer. Att staten också går in med kapital i mindre bolag ryms inom samma linje om att återta samhällsviktig verksamhet.
- state ownership in weapons productiondecisive»Vi vill se ett starkt statligt ägande i vapenproduktionen för att säkerhetspolitiska nyckelbeslut ska fattas med ett helhetsperspektiv.« (party programme ↗)“We want to see strong state ownership in weapons production so that key security policy decisions are made with a holistic perspective.”
- collective ownership in key sectors»Vi vill steg för steg stärka det gemensamma ägandet i ekonomins nyckelsektorer« (party programme ↗)“We want to step by step strengthen collective ownership in key sectors of the economy”
- reclaim privatized activities»Det är hög tid att agera och ta tillbaka den samhällsviktiga verksamhet och infrastruktur som har privatiserats.« (2022 manifesto ↗)“It is high time to act and take back the socially important activities and infrastructure that have been privatized.”
flags: citat_migrerat
The party programme notes that privatization of functions critical to preparedness has entailed risks for the country's resilience and states that resilience and security shall take precedence over market interests.
Plan documents: party programme · 2022 manifesto
Reasoning and quotes
The party programme notes that privatization of functions critical to preparedness has entailed risks for the country's resilience and states that resilience and security shall take precedence over market interests. This supports an investigation into strong state ownership in weapons production. The plan also wants to strengthen societal interests in the governance of state-owned enterprises and accepts that the state shares investment risk to bring forward investments the market deems too risky. The counter-proposal is supported.
Original (Swedish)
Partiprogrammet konstaterar att privatisering av beredskapsviktiga funktioner har medfört risker för landets motståndskraft och slår fast att motståndskraft och säkerhet ska gå före marknadsintressen. Det talar för en utredning om starkt statligt ägande i vapenproduktionen. Planen vill också stärka samhällsintresset i styrningen av de statliga bolagen och accepterar att staten delar investeringsrisk för att få fram investeringar marknaden räknar som för riskfyllda. Motförslaget stöds.
- privatization threatens preparednessdecisive»Privatisering av funktioner som är viktiga för Sveriges beredskap har medfört risker för landets« (party programme ↗)“Privatization of functions important to Sweden's preparedness has entailed risks for the country's”
- resilience before market»Svensk motståndskraft liksom medborgarnas säkerhet och trygghet sätts före« (party programme ↗)“Swedish resilience, as well as citizens' security and safety, takes precedence over”
- societal interest in state-owned enterprises»Stärkt samhällsintresse i styrningen av de statliga bolagen.« (party programme ↗)“Strengthened societal interest in the governance of state-owned enterprises.”
- the state shares investment risk»Genom att staten tar en del av risken kan de gröna investeringarna öka.« (2022 manifesto ↗)“By the state taking some of the risk, green investments can increase.”
The plan takes no explicit position on what the committee actually decided — often because the committee's reason was procedural. The stance is derived and fully cited, but it does not show the party broke a commitment.
The plan says that society must secure control over critical infrastructure and increase self-sufficiency in important technology, and that policy needs to have greater sovereignty over shared resources.
Plan documents: party programme · 2022 manifesto
Reasoning and quotes
The plan says that society must secure control over critical infrastructure and increase self-sufficiency in important technology, and that policy needs to have greater sovereignty over shared resources. This supports the counter-proposal's demand for an investigation into state ownership and state capital in defense production. At the same time, the plan conditions the weapons industry on it never undermining work for peace and human rights, which makes the support weak and the conclusion uncertain.
Original (Swedish)
Planen säger att samhället måste säkra kontroll över kritisk infrastruktur och öka självförsörjningen av viktig teknologi, och att politiken behöver ha större rådighet över gemensamma resurser. Det talar för motförslagets krav på en utredning om statligt ägande och statligt kapital i försvarsproduktionen. Samtidigt villkorar planen vapenindustrin med att den aldrig får urholka arbetet för fred och mänskliga rättigheter, vilket gör stödet svagt och slutsatsen osäker.
- control over critical productiondecisive»läkemedel, kritiska råmaterial och viktig teknologi. Samhället måste säkra kontroll över« (party programme ↗)“medicine, critical raw materials and important technology. Society must secure control over”
- political sovereignty over resources»Politiken behöver därför ha större rådighet över hur våra gemensamma resurser fördelas.« (party programme ↗)“Policy therefore needs to have greater sovereignty over how our shared resources are distributed.”
- weapons industry subordinate to peace»av vapen, får aldrig urholka arbetet för fred, demokratisering och mänskliga rättigheter.« (party programme ↗)“of weapons, must never undermine work for peace, democratization and human rights.”
- prioritize civil defense»satsa en större andel av försvarets pengar på det civila försvaret, och öka anslagen till krisberedskap« (2022 manifesto ↗)“invest a larger share of defense spending on civil defense, and increase appropriations for crisis preparedness”
The plan takes no explicit position on what the committee actually decided — often because the committee's reason was procedural. The stance is derived and fully cited, but it does not show the party broke a commitment.
The plan's economic fundamental stance is a market economy free from centrally planned directions, where it is individual people who start and run businesses.
Plan documents: party programme · 2022 manifesto
Reasoning and quotes
The plan's economic fundamental stance is a market economy free from centrally planned directions, where it is individual people who start and run businesses. A study assignment whose aim is to secure strong state ownership in weapons production runs counter to that line. The plan does wish to have more efficient state risk capital, but as a complement to private capital and not as state ownership of production.
Original (Swedish)
Planens ekonomiska grundhållning är en marknadsekonomi fri från planekonomiska pekpinnar, där det är enskilda människor som startar och driver företagen. Ett utredningsuppdrag vars syfte är att säkra ett starkt statligt ägande i vapenproduktionen går emot den linjen. Planen vill visserligen ha ett effektivare statligt riskkapital, men som komplement till privat kapital och inte som statligt ägande av produktionen.
- privat företagande bygger näringslivetdecisive»Det är enskilda människor som startar, driver och utvecklar företagen och som skapar jobben i hela vårt land.« (party programme ↗)“It is individual people who start, run and develop businesses and who create jobs throughout our country.”
- effektivare statligt riskkapital»Vi vill att det statliga riskkapitalet blir mer effektivt och att investeraravdraget breddas och fördjupas.« (2022 manifesto ↗)“We wish state risk capital to become more efficient and for the investor deduction to be broadened and deepened.”
- snabb försvarsupprustning»Sverige ska försvaras. Vi vill rusta det militära försvaret snabbt, kraftfullt och långsiktigt.« (2022 manifesto ↗)“Sweden shall be defended. We wish to arm the military defence quickly, powerfully and long-term.”
flags: citat_blockerat
The plan is restrictive on state enterprise: the public sector shall only run business activities when there is a strong public interest and shall not crowd out functioning private alternatives.
Plan documents: party programme · 2022 manifesto
Reasoning and quotes
The plan is restrictive on state enterprise: the public sector shall only run business activities when there is a strong public interest and shall not crowd out functioning private alternatives. The counter-proposal wants to investigate strong state ownership in weapons production and state risk capital to defence companies, which goes against that line. The plan instead wants to strengthen defence capacity and see strategic assets in a security-policy perspective, which it handles with demands and control rather than ownership.
Original (Swedish)
Planen är restriktiv till statligt företagande: det offentliga ska bara driva affärsverksamhet vid ett starkt samhällsintresse och inte tränga ut fungerande privata alternativ. Motförslaget vill utreda ett starkt statligt ägande i vapenproduktionen och statligt riskkapital till försvarsföretag, vilket går emot den linjen. Planen vill i stället stärka försvarsförmågan och se strategiska tillgångar i ett säkerhetspolitiskt perspektiv, vilket den hanterar med krav och kontroll snarare än ägande.
- restrictive public enterprisedecisive»Det offentliga ska endast driva affärsverksamhet om det finns ett starkt samhällsintresse.« (party programme ↗)“The public sector shall only run business activities if there is a strong public interest.”
- no crowding out of private sector»offentliga ska inte driva verksamheter som tränger ut fungerande privata alternativ eller försvårar« (party programme ↗)“public shall not run activities that crowd out functioning private alternatives or impede”
- protection of strategic assets»Den utveckling där odemokratiska eller rentav totalitära stater förvärvar strategiska tillgångar i« (party programme ↗)“The development where undemocratic or even totalitarian states acquire strategic assets in”
- significantly strengthened defence»Sverige behöver ett betydligt starkare militärt försvar än i dag.« (2022 manifesto ↗)“Sweden needs substantially stronger military defence than today.”
The party programme wants the economy to be built on a high degree of personal ownership and rejects direct business subsidies; the state's role is to set long-term rules of the game, not to own production.
Plan documents: party programme
Reasoning and quotes
The party programme wants the economy to be built on a high degree of personal ownership and rejects direct business subsidies; the state's role is to set long-term rules of the game, not to own production. The counter-proposal's demand for an investigation for strong state ownership in weapons production goes against this. The plan does, however, give some support to that public bodies contribute to risk capital for small businesses, which is not sufficient to carry the demand in its entirety.
Original (Swedish)
Principprogrammet vill att ekonomin bygger på en hög grad av personligt ägande och avvisar direkta företagssubventioner; statens roll är att sätta långsiktiga spelregler, inte att äga produktionen. Motförslagets krav på en utredning för starkt statligt ägande i vapenproduktionen går emot detta. Planen ger däremot visst stöd åt att offentliga organ medverkar till riskkapital för mindre företag, vilket inte räcker för att bära kravet i dess helhet.
- personal ownership over institutionaldecisive»En väl fungerande ekonomi bör därför bygga på en hög grad av personligt ägande.« (party programme ↗)“A well-functioning economy should therefore be built on a high degree of personal ownership.”
- no to business subsidies»Direkta företagssubventioner avvisas.« (party programme ↗)“Direct business subsidies are rejected.”
- domestic defense industry required»vilket förutsätter en inhemsk försvarsindustri.« (party programme ↗)“which presupposes a domestic defense industry.”
- public risk capital for small businesses»De offentliga organen bör medverka till att nödvändigt riskkapital finns tillgängligt, inte minst för mindre företag och i regioner med svag kapitalbildning och sysselsättningsproblem.« (party programme ↗)“Public bodies should contribute to ensuring necessary risk capital is available, not least for small businesses and in regions with weak capital formation and employment problems.”
The plan bases defence industry policy on a free market, lower taxes on business and state support in the form of protection and cooperation rather than ownership, and the party programme warns that a large state gives a weaker society.
Plan documents: party programme · 2022 manifesto
Reasoning and quotes
The plan bases defence industry policy on a free market, lower taxes on business and state support in the form of protection and cooperation rather than ownership, and the party programme warns that a large state gives a weaker society. An investigation to secure strong state ownership in weapons production and state venture capital for defence firms goes against that line. The plan thus speaks against the counter-proposal's demands.
Original (Swedish)
Planen bygger försvarsindustripolitiken på ett fritt näringsliv, lägre skatter på företagande och statligt stöd i form av skydd och samverkan snarare än ägande, och partiprogrammet varnar för att en stor stat ger ett svagare samhälle. En utredning för att säkra starkt statligt ägande i vapenproduktionen och statligt riskkapital till försvarsföretag går emot den linjen. Planen talar därför emot motförslagets krav.
- limited state ownershipdecisive»En stor stat leder till ett svagare samhälle.« (party programme ↗)“A large state leads to a weaker society.”
- free market»Moderaterna vill bygga ett land där ett fritt näringsliv skapar ett välstånd som kommer alla till del.« (2022 manifesto ↗)“The Moderate Party wants to build a country where a free market creates prosperity that benefits all.”
- competitive defence industry»Verka för att Sveriges teknologiska kunnande och kompetenta försvarsindustri kommer hela Nato till del« (2022 manifesto ↗)“Work to ensure that Sweden's technological expertise and competent defence industry benefits all of NATO”
- state support without ownership»Ge företag som är engagerade i säkerhetskänslig verksamhet bättre stöd från staten att kunna möta cyberattacker, spionage och stöldförsök från främmande makt« (2022 manifesto ↗)“Give companies engaged in security-sensitive operations better support from the state to meet cyberattacks, espionage and theft attempts from a foreign power”
The plan wants to strengthen Swedish defense industry through investments in domestic defense technology and by valuing Swedish suppliers' strategic importance in military equipment procurement, but is based fundamentally on a regulated market economy and a pragmatic view of ownership.
Plan documents: party programme · 2022 manifesto
Reasoning and quotes
The plan wants to strengthen Swedish defense industry through investments in domestic defense technology and by valuing Swedish suppliers' strategic importance in military equipment procurement, but is based fundamentally on a regulated market economy and a pragmatic view of ownership. The counter-proposal's demands for an investigation into strong state ownership in weapons production and state risk capital through regional funds do not follow from these commitments. The plan also urges restraint with new public spending and investigations.
Original (Swedish)
Planen vill stärka svensk försvarsindustri genom satsningar på inhemsk försvarsteknologi och genom att värdera svenska leverantörers strategiska betydelse vid materielinköp, men bygger i grunden på en reglerad marknadsekonomi och en pragmatisk syn på ägandeformen. Motförslagets krav på en utredning om starkt statligt ägande i vapenproduktionen och statligt riskkapital via regionala fonder följer inte av dessa åtaganden. Planen manar dessutom till återhållsamhet med nya offentliga utgifter och utredningar.
- regulated market economydecisive»En ansvarsfull, reglerad marknadsekonomi, byggd på långsiktigt tänkande, är för oss självklar.« (party programme ↗)“A responsible, regulated market economy, built on long-term thinking, is for us self-evident.”
- pragmatic ownership question»Det viktigaste för oss är i de flesta fall inte vem som utför en specifik uppgift utan att uppgiften utförs på ett sätt som renderar medborgarna största möjliga nytta till lägsta möjliga kostnad.« (party programme ↗)“The most important thing for us in most cases is not who performs a specific task but that the task is performed in a way that renders citizens the greatest possible benefit at the lowest possible cost.”
- strengthened domestic defense industry»Svensk försvarsindustri ska också stärkas genom att fortsatt satsa på inhemsk försvarsteknologi och att tydligare värdera det strategiska intresset av svenska leverantörer vid inköp av försvarsmateriel.« (2022 manifesto ↗)“Swedish defense industry should also be strengthened by continuing to invest in domestic defense technology and by more clearly valuing the strategic interest of Swedish suppliers in the procurement of defense material.”
- restraint on spending»Skala bort onödiga utgifter i det offentliga« (2022 manifesto ↗)“Scale back unnecessary spending in the public sector”
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Sources and documents
- The committee report on riksdagen.se (2025/26:FöU3)
- Committee report full text (HD01FöU3)
- Per-MP voting data (API)
- Case status (API)
Documents under consideration
- Motion 2025/26:124 — med anledning av skr. 2024/25:193 Försvarsindustristrategi för ett starkare Sverige - innovation, produktion och samarbete av Mikael Larsson och Kerstin Lundgren (båda C)
- Motion 2025/26:54 — med anledning av skr. 2024/25:193 Försvarsindustristrategi för ett starkare Sverige - innovation, produktion och samarbete av Hanna Gunnarsson m.fl. (V)
- Motion 2025/26:76 — med anledning av skr. 2024/25:193 Försvarsindustristrategi för ett starkare Sverige - innovation, produktion och samarbete av Peter Hultqvist m.fl. (S)
- Motion 2025/26:79 — med anledning av skr. 2024/25:193 Försvarsindustristrategi för ett starkare Sverige - innovation, produktion och samarbete av Emma Berginger m.fl. (MP)
- Regeringens skrivelse 2024/25:193 — Försvarsindustristrategi för ett starkare Sverige - innovation, produktion och samarbete
Source: The Swedish Parliament