2025-04-242024/25:NU17 · p.9NUBusiness & energy

Companies' capital supply

Direction of state venture-capital support and capital access for farm businesses

What's at stake: Access to capital determines whether new and growing companies, as well as farm businesses investing in technology and sustainability, can finance their development. The question is whether state support should be redirected toward early stages and special conditions for agriculture, or whether the market and current measures are sufficient.

Case texts and AI reasoning are AI-translated from the Swedish originals; the Swedish text is authoritative.

What the vote decides

The motions called for state venture-capital support to be directed at pre-commercial phases for smaller growth companies and for market-based capital access for farm investments to be specifically examined, while the committee held that existing capital supply, including private venture capital and complementary state measures, already works well.

Yes Yes — the committee proposal

The committee rejects the motions, emphasising that Sweden has a well-functioning market for business financing built on private credit and venture capital, that the state's complementary measures such as the credit guarantee programme for large green industrial investments already play an important role, and that capital supply in rural and sparsely populated areas is part of a good business climate nationwide; the committee also refers to its previous positions on the issue.

No No — the reservations

Reservation 22 (SD)

The reserving party (SD) wants state support, particularly venture-capital financing, to be directed at pre-commercial phases with a focus on smaller, newly started growth companies rather than risking wasted public funds and distorted competition, and wants it examined how market-based capital access can be made easier for farm investments, since farm businesses have particular needs for specialist expertise in financing assessments.

Summarised from the committee report. Party labels in the summary come from the report, not from the vote.

VSMPCLKDMSD
YesNoAbstainAbsent

What do the votes mean here?

Yes The committee proposal: rejecting the motions (keeping things as they are).

No Backing the counter-proposal: reservation 22 by SD.

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.

PlanVoteConfidenceEvidence
VYesAbstain 0/0/19/5departs from the planconfidence: mediumderived
SYesYes 91/0/0/15follows the planconfidence: mediumderived
MPNoAbstain 0/0/13/5departs from the planconfidence: mediumderived
CNoYes 21/0/0/3departs from the planconfidence: mediumderived
LNoYes 12/0/0/4departs from the planconfidence: mediumderived
KDNoYes 14/0/0/5departs from the planconfidence: mediumderived
MNoYes 58/0/0/10departs from the planconfidence: mediumderived
SDown reservationNoNo 0/63/0/9follows the planconfidence: mediumderived

Committee proposal

Parliament rejects the motions 2024/25:554 by Birger Lahti et al. (V) provision 9, 2024/25:1395 by Martin Kinnunen et al. (SD) provision 53, 2024/25:1460 by Tobias Andersson et al. (SD) provisions 1 and 4, 2024/25:2613 by Elin Söderberg et al. (MP) provision 84, 2024/25:2635 by Elin Söderberg et al. (MP) provision 14, 2024/25:2748 by Ann-Sofie Lifvenhage (M), and 2024/25:3057 by Elin Söderberg et al. (MP) provision 1.

Original (Swedish)

Riksdagen avslår motionerna 2024/25:554 av Birger Lahti m.fl. (V) yrkande 9, 2024/25:1395 av Martin Kinnunen m.fl. (SD) yrkande 53, 2024/25:1460 av Tobias Andersson m.fl. (SD) yrkandena 1 och 4, 2024/25:2613 av Elin Söderberg m.fl. (MP) yrkande 84, 2024/25:2635 av Elin Söderberg m.fl. (MP) yrkande 14, 2024/25:2748 av Ann-Sofie Lifvenhage (M) och 2024/25:3057 av Elin Söderberg m.fl. (MP) yrkande 1.

Riksdag decision: A national cash ban should be introduced in trade with ferrous and metal waste. That is what Parliament concluded and decided to urge the Government in a formal request (tillkännagivande) to take measures to introduce such a ban. The purpose of allowing only digital payments is to make it easier to control suspected waste handling and to hamper organized crime. The formal request (tillkännagivande) was made in connection with Parliament's treatment of approximately 150 proposals on business and industry policy in motions from the general motion period 2024. Parliament rejected the other motions, among other things by referring to ongoing work.

Counter-proposals

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.

VVänsterpartietYesAbstaindeparts from the planderived

The counter-proposal wants to limit state risk capital to pre-commercial phases and let capital acquisition otherwise occur on market terms.

Plan documents: party programme

Reasoning and quotes

The counter-proposal wants to limit state risk capital to pre-commercial phases and let capital acquisition otherwise occur on market terms. The plan goes the opposite way: the state shall strengthen its ownership in the financial sector to secure societally important investments and improve conditions for smaller businesses, and extensive public investments form the core of the strategy for full employment. That the state withdraws from larger investment decisions thus contradicts the plan's commitment, even though it shares the desire to provide sound businesses with good conditions.

Original (Swedish)

Motförslaget vill begränsa det statliga riskkapitalet till förkommersiella faser och låta kapitalanskaffningen i övrigt ske på marknadens villkor. Planen går motsatt väg: staten ska stärka sitt ägande i finanssektorn för att säkra samhällsviktiga investeringar och förbättra villkoren för mindre företag, och omfattande offentliga investeringar utgör kärnan i strategin för full sysselsättning. Att staten drar sig tillbaka från de större investeringsbesluten strider därmed mot planens åtagande, även om den delar viljan att ge sunda företag goda villkor.

  • state ownership in the financial sectordecisive»ett starkare ägande i finanssektorn kan staten säkra samhällsviktiga« (party programme ↗)“a stronger ownership stake in the financial sector the state can secure societally important”
  • joint ownership in key sectors»I nyckelsektorer som finans, infrastruktur, bostäder och energiförsörjning vill« (party programme ↗)“In key sectors such as finance, infrastructure, housing and energy supply we want”
  • major public investments»Omfattande investeringar för att ta itu med de stora samhällsutmaningarna« (party programme ↗)“Extensive investments to address the major societal challenges”
  • good conditions for reputable businesses»Vi vill se goda villkor för sunda företag« (party programme ↗)“We want to see good conditions for sound businesses”

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.

SSocialdemokraternaYesYesfollows the planderived

The election manifesto bases its employment policy on the state taking some of the risk in large green investments that the market considers too risky, and wants to expand green credit guarantees.

Plan documents: 2022 manifesto · party programme

Reasoning and quotes

The election manifesto bases its employment policy on the state taking some of the risk in large green investments that the market considers too risky, and wants to expand green credit guarantees. The counter-proposal instead wants to limit state capital to pre-commercial phases and small start-ups, citing the risk of distorted competition. This goes against the plan's commitment to targeted state involvement in industrial transition.

Original (Swedish)

Valmanifestet bygger jobbpolitiken på att staten tar en del av risken i stora gröna investeringar som marknaden anser för riskfyllda, och vill utöka de gröna kreditgarantierna. Motförslaget vill i stället begränsa det statliga kapitalet till förkommersiella faser och mindre nystartade företag, med hänvisning till risken för snedvriden konkurrens. Det går emot planens åtagande om ett målinriktat statligt engagemang i industrins omställning.

  • the state shares investment riskdecisive»Genom att staten tar en del av risken kan de gröna investeringarna öka. Vi vill utöka de gröna kreditgarantierna« (2022 manifesto ↗)“By the state taking some of the risk, green investments can increase. We want to expand green credit guarantees”
  • state investments in transition»Genom statliga investeringar kan vi öka takten i industrins omställning och underlätta ett klimatsmart liv« (2022 manifesto ↗)“Through state investments, we can increase the pace of industrial transition and facilitate a climate-smart life”
  • active state industry policy»Det förutsätter ett målinriktat engagemang från statens sida« (party programme ↗)“This requires targeted commitment from the state”
MPMiljöpartietNoAbstaindeparts from the planderived

The party programme wants society to support the emergence and development of smaller companies and highlights early-stage capital provision as an important reform, and that society should be able to provide credit guarantees to rural entrepreneurs.

Plan documents: party programme

Reasoning and quotes

The party programme wants society to support the emergence and development of smaller companies and highlights early-stage capital provision as an important reform, and that society should be able to provide credit guarantees to rural entrepreneurs. The plan also wants to see viable agriculture throughout the country. Directing state risk capital towards pre-commercial phases and investigating agriculture's capital procurement is therefore in line with the plan.

Original (Swedish)

Partiprogrammet vill att samhället stödjer framväxten och utvecklingen av mindre företag och lyfter fram kapitalförsörjning i tidigt skede som en viktig reform, samt att samhället ska kunna bistå med kreditgarantier till landsbygdsföretagare. Planen vill dessutom se ett livskraftigt jordbruk i hela landet. Att rikta statligt riskkapital mot förkommersiella faser och utreda jordbrukets kapitalanskaffning ligger därför i linje med planen.

  • early-stage capitaldecisive»kapitalförsörjning i tidigt skede i företagandet är« (party programme ↗)“early-stage capital provision in business is”
  • support for smaller companies»framväxten och utvecklingen av dessa mindre« (party programme ↗)“the emergence and development of these smaller”
  • capital to rural enterprises»kreditgarantier till landsbygdsföretagare.« (party programme ↗)“credit guarantees to rural entrepreneurs.”
  • viable agriculture»Sverige ska ha ett livskraftigt jordbruk i hela landet« (party programme ↗)“Sweden should have viable agriculture throughout the country”

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.

CCenterpartietNoYesdeparts from the planderived

The plan's commitment is that public venture capital becomes more efficient and reaches small businesses, which points to the counter-proposal's demand to direct support to pre-commercial phases and smaller, newly started growth companies instead of broad programmes.

Plan documents: 2022 manifesto · party programme

Reasoning and quotes

The plan's commitment is that public venture capital becomes more efficient and reaches small businesses, which points to the counter-proposal's demand to direct support to pre-commercial phases and smaller, newly started growth companies instead of broad programmes. The requirement to avoid distorted competition follows from the plan's market economy basic position. Facilitating capital acquisition on market terms for agricultural investments is in line with the commitment to strengthen agricultural competitiveness. However, the plan does not specify the phase division itself, hence inferred.

Original (Swedish)

Planens åtagande är att det statliga riskkapitalet ska bli mer effektivt och nå småföretagen, vilket pekar mot motförslagets krav att styra stödet till förkommersiella faser och mindre, nystartade tillväxtföretag i stället för till breda program. Kravet på att undvika snedvriden konkurrens följer av planens marknadsekonomiska grundhållning. Att underlätta kapitalanskaffning på marknadens villkor för jordbrukets investeringar ligger i linje med åtagandet att stärka lantbrukets konkurrenskraft. Planen anger dock inte själva fasindelningen, därav inferred.

  • more efficient public venture capitaldecisive»Kapitalförsörjning är avgörande för många småföretag. Vi vill att det statliga riskkapitalet blir mer effektivt och att investeraravdraget breddas och fördjupas.« (2022 manifesto ↗)“Capital supply is crucial for many small businesses. We want public venture capital to become more efficient and venture capital deductions to be broadened and deepened.”
  • capital shortage in newly started companies»Små och nystartade företag har svårare att få tillgång till kapital« (party programme ↗)“Small and newly started companies have difficulty accessing capital.”
  • strengthened agricultural competitiveness»Det svenska lantbrukets konkurrenskraft, både inom EU och gentemot övriga världen, ska förstärkas.« (party programme ↗)“The competitiveness of Swedish agriculture, both within the EU and against the rest of the world, must be strengthened.”

flags: citat_blockerat

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.

LLiberalernaNoYesdeparts from the planderived

The party programme wants to enable a vital market for private venture capital and establishes that the public sector shall only conduct business when there is a strong public interest.

Plan documents: party programme · 2022 manifesto

Reasoning and quotes

The party programme wants to enable a vital market for private venture capital and establishes that the public sector shall only conduct business when there is a strong public interest. Limiting state venture capital to pre-commercial phases and newly established growth companies is precisely the limitation the plan advocates to avoid crowding out private alternatives. Facilitating agriculture's capital raising on market terms is in line with the requirement for reformed agricultural support.

Original (Swedish)

Partiprogrammet vill möjliggöra en vital marknad för privat riskkapital och slår fast att det offentliga endast ska driva affärsverksamhet när det finns ett starkt samhällsintresse. Att avgränsa statligt riskkapital till förkommersiella faser och nystartade tillväxtföretag är just den avgränsning planen förordar för att inte tränga undan privata alternativ. Att underlätta jordbrukets kapitalanskaffning på marknadens villkor ligger i linje med kravet på reformerade jordbruksstöd.

  • private venture capital as basisdecisive»möjliggöra en vital marknad för privat riskkapital« (party programme ↗)“enable a vital market for private venture capital”
  • limited public enterprise»Det offentliga ska endast driva affärsverksamhet om det finns ett starkt samhällsintresse.« (party programme ↗)“The public sector shall only conduct business activities if there is a strong public interest.”
  • better conditions for new companies»En startup-kommission ska tillsättas och skattesystemet anpassas bättre till den växande delningsekonomin.« (2022 manifesto ↗)“A startup commission shall be appointed and the tax system adapted better to the growing sharing economy.”
  • market terms in agriculture»EU:s jordbrukspolitik behöver reformeras i grunden.« (party programme ↗)“The EU's agricultural policy needs to be reformed fundamentally.”

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.

KDKristdemokraternaNoYesdeparts from the planderived

The plan rejects direct business subsidies but at the same time states that public bodies should contribute to necessary risk capital being available, not least for smaller companies and in regions with weak capital formation.

Plan documents: party programme · 2022 manifesto

Reasoning and quotes

The plan rejects direct business subsidies but at the same time states that public bodies should contribute to necessary risk capital being available, not least for smaller companies and in regions with weak capital formation. The counter-proposal's requirement that state risk capital is directed towards pre-commercial phases and smaller, newly started growth companies – to avoid money pits and distorted competition – is precisely the limitation the plan advocates. The requirement to facilitate capital acquisition for agriculture is supported by the election manifesto's promise of cost relief for agriculture.

Original (Swedish)

Planen avvisar direkta företagssubventioner men slår samtidigt fast att de offentliga organen bör medverka till att nödvändigt riskkapital finns tillgängligt, inte minst för mindre företag och i regioner med svag kapitalbildning. Motförslagets krav på att statligt riskkapital riktas mot förkommersiella faser och mindre, nystartade tillväxtföretag - för att undvika slukhål och snedvriden konkurrens - är just den avgränsning planen förespråkar. Kravet på att underlätta jordbrukets kapitalanskaffning stöds av valmanifestets löfte om kostnadslättnader för lantbruket.

  • direct subsidies are rejecteddecisive»Direkta företagssubventioner avvisas.« (party programme ↗)“Direct business subsidies are rejected.”
  • public risk capital for smaller companies»nödvändigt riskkapital finns tillgängligt« (party programme ↗)“necessary risk capital is available”
  • risk capital for new companies»främjar tillgången till riskvilligt kapital för nya och växande företag.« (party programme ↗)“promotes access to risk capital for new and growing companies.”
  • strengthened competitiveness for agriculture»Regeländringar och kostnadslättnader för svenskt lantbruk för att öka Sveriges självförsörjning och stärka lantbrukets konkurrenskraft.« (2022 manifesto ↗)“Regulatory changes and cost relief for Swedish agriculture to increase Sweden's self-sufficiency and strengthen agriculture's competitiveness.”

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.

MModeraternaNoYesdeparts from the planderived

The counter-proposal wants to limit public risk capital to pre-commercial phases to avoid drains on tax money and distorted competition, and facilitate capital acquisition on market terms for agriculture.

Plan documents: party programme · 2022 manifesto

Reasoning and quotes

The counter-proposal wants to limit public risk capital to pre-commercial phases to avoid drains on tax money and distorted competition, and facilitate capital acquisition on market terms for agriculture. The party programme requires that public waste in all forms be combated and that the state protects competition rather than replaces the market. The plan also wants to strengthen incentives for investment and strengthen agriculture.

Original (Swedish)

Motförslaget vill begränsa statligt riskkapital till förkommersiella faser för att undvika slukhål för skattemedel och snedvriden konkurrens, och underlätta kapitalanskaffning på marknadens villkor för jordbruket. Partiprogrammet kräver att offentligt slöseri i alla former bekämpas och att staten värnar konkurrensen snarare än ersätter marknaden. Planen vill också stärka drivkrafterna för investeringar och stärka jordbruket.

  • combat public wastedecisive»Offentligt slöseri i alla former ska bekämpas.« (party programme ↗)“Public waste in all forms shall be combated.”
  • incentives for investment»Stärka drivkrafterna för investeringar, forskning och entreprenörskap, genom lägre skatter på företagande« (2022 manifesto ↗)“Strengthen incentives for investment, research and entrepreneurship through lower taxes on business”
  • conditions for growth companies»Möjliggöra för fler företag att kunna använda sig av reglerna för personaloptioner« (2022 manifesto ↗)“Make it possible for more companies to use the rules for employee share options”
  • strengthened agriculture»Stärka jordbruket för att öka den inhemska produktionen av livsmedel« (2022 manifesto ↗)“Strengthen agriculture to increase domestic food production”

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.

SDSverigedemokraternaNoNofollows the planderived

The plan requires clear results for each public initiative, which bears the counter-proposal's requirement that state venture capital be directed towards pre-commercial phases and small start-up companies instead of becoming a drain on tax revenue.

Plan documents: 2022 manifesto

Reasoning and quotes

The plan requires clear results for each public initiative, which bears the counter-proposal's requirement that state venture capital be directed towards pre-commercial phases and small start-up companies instead of becoming a drain on tax revenue. The election manifesto furthermore seeks to create conditions for new business formation and entrepreneurship and increase agriculture's competitiveness, which supports that agricultural capital-raising on market terms be facilitated. The plan does not express itself on venture capital policy's technical design, so the position is derived from these commitments.

Original (Swedish)

Planen kräver tydliga resultat för varje offentlig satsning, vilket bär motförslagets krav på att statligt riskkapital riktas mot förkommersiella faser och små nystartade bolag i stället för att bli slukhål för skattemedel. Valmanifestet vill också skapa förutsättningar för nyföretagande och entreprenörskap samt öka jordbrukets konkurrenskraft, vilket stöder att jordbrukets kapitalanskaffning på marknadens villkor underlättas. Planen uttalar sig inte om riskkapitalpolitikens tekniska utformning, så ställningstagandet är härlett ur dessa åtaganden.

  • results requirements on public initiativesdecisive»Begära tydliga resultat för varje offentlig satsning« (2022 manifesto ↗)“Demand clear results for each public initiative”
  • support new business»Skapa förutsättningar för nyföretagande och entreprenörskap« (2022 manifesto ↗)“Create conditions for new business formation and entrepreneurship”
  • strengthened agricultural competitiveness»Öka det svenska jordbrukets konkurrenskraft och Sveriges självförsörjning av livsmedel« (2022 manifesto ↗)“Increase Swedish agriculture's competitiveness and Sweden's self-sufficiency in food”
  • business throughout the country»Det är av vikt att beslutsfattare skapar möjligheter för näringsliv och företagande i hela landet« (2022 manifesto ↗)“It is important that decision-makers create opportunities for business and entrepreneurship throughout the country”

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Sources and documents

Documents under consideration

Source: The Swedish Parliament