2025-11-262025/26:FiU1 · p.1FiUEconomy & finance

Guidelines for economic policy and budget policy

What's at stake: The direction of economic policy affects how quickly household purchasing power recovers after the prolonged economic downturn, as well as how unemployment, housebuilding and state investment in infrastructure and energy develop in the coming years.

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

What the vote decides

The question is what direction economic and budget policy should take: supporting household finances through tax cuts and targeted support while strengthening incentives to work through a benefits reform, or prioritising a more growth-oriented policy with long-term investment, a growth pact between the state and business, and a broader tax reform.

Yes Yes — the committee proposal

The committee shares the government's assessment that economic policy should focus on supporting household finances through measures including lower tax on work and pensions, a temporary cut in VAT on food, higher housing allowances, lower energy tax on electricity and a cap on high electricity and gas costs, while strengthening the earned-income tax credit and implementing a benefits reform with a benefits cap and activity requirements to reinforce incentives to work.

No No — the reservations

Reservation 1 (S)

The reservation wants a more growth-oriented policy with long-term investment and structural reforms, including a growth pact bringing the state and business together, a cross-party energy agreement, a broader and more efficient tax base, investment in infrastructure, roads and railways, state investment support for housebuilding, and a cap on high sick-pay costs to protect smaller companies, with full employment as the goal.

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: approving what the committee proposes and rejecting the motions (keeping things as they are).

No Backing the counter-proposal: reservation 1 by S.

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
VNoAbstain 0/0/17/5departs from the planconfidence: mediumexplicit
Sown reservationNoNo 0/93/0/13follows the planconfidence: highexplicit
MPNoAbstain 0/0/14/4departs from the planconfidence: mediumderived
CNoAbstain 0/0/20/4departs from the planconfidence: mediumderived
LYesYes 12/0/0/4follows the planconfidence: mediumderived
KDNoYes 16/0/0/3departs from the planconfidence: lowderived
MYesYes 60/0/0/8follows the planconfidence: highexplicit
SDNoYes 61/0/0/11departs from the planconfidence: mediumderived

Committee proposal

Parliament approves the guidelines for economic policy and budget policy that the government proposes. Parliament thereby approves Proposition 2025/26:1 Finance Plan point 2 and rejects motions 2025/26:2792 by Nooshi Dadgostar et al. (V) motion 1, 2025/26:3551 by Magdalena Andersson et al. (S) motion 1, 2025/26:3770 by Amanda Lind et al. (MP) motion 1 and 2025/26:3811 by Elisabeth Thand Ringqvist et al. (C) motion 1.

Original (Swedish)

Riksdagen godkänner de riktlinjer för den ekonomiska politiken och budgetpolitiken som regeringen föreslår. Därmed bifaller riksdagen proposition 2025/26:1 finansplanen punkt 2 och avslår motionerna 2025/26:2792 av Nooshi Dadgostar m.fl. (V) yrkande 1, 2025/26:3551 av Magdalena Andersson m.fl. (S) yrkande 1, 2025/26:3770 av Amanda Lind m.fl. (MP) yrkande 1 och 2025/26:3811 av Elisabeth Thand Ringqvist m.fl. (C) yrkande 1.

Riksdag decision: Parliament approved expenditure frameworks and income calculation in the government's budget proposition for the year 2026. The expenses are calculated to amount to 1,542 billion kronor and income is estimated at 1,375 billion kronor. This means a deficit in the state budget of 167 billion kronor for 2026. Parliament also approved the expenditure ceiling for the state and agreed to replace the current surplus target with a balance target as of 2027, as well as proposals for tax and fee rules that include among other things strengthening of the ordinary labor tax deduction, the increased basic deduction and the tax reduction for sick and activity benefits increased amount limit for deductions for certain types of travel reduced special income tax for non-residents that a basic deduction in risk tax is introduced and the tax rate is increased simpler and better tax rules for shareholders in small-cap companies that a tax reduction is introduced for gifts from legal entities to non-profit activities increased property tax for wind power facilities reduced energy tax on electricity extended temporarily increased reduction of tax on agricultural diesel eliminated vehicle tax and caravan tax for certain trailers modernized taxation of gases. All law changes begin to apply on January 1, 2026 except those concerning modernized taxation of gases, which begin to apply on July 1, 2026 and eliminated vehicle tax and caravan tax for certain trailers which begin to apply on February 1, 2026. Parliament also approved the government's direction for economic policy and budget policy. Policy shall be directed at supporting hard-working people's economy so that the prolonged recession can be broken and recovery can resume. A benefit reform shall make it more profitable to work. Companies' conditions shall be improved. Resources for schools shall increase, crime shall continue to be combated and waiting times for healthcare shall be shortened. Defense shall be strengthened as well as support to Ukraine. Fossil fuels shall be phased out and Sweden shall reach net-zero emissions by 2045. Financial policy is expansive in 2026 to counteract the recession from having prolonged negative consequences on the Swedish economy. With stable public finances and low government debt, Sweden stands strong and therefore has the opportunity to implement measures that strengthen Sweden and Swedish households' economy and break the recession. Parliament's decision on expenditure frameworks for the state budget is guiding when Parliament in the next step decides on appropriations for the 27 expenditure areas in the budget.

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.

VVänsterpartietNoAbstaindeparts from the planexplicit

The election manifesto requires investment support for increased housing construction, infrastructure investments in railways and roads as well as full employment as a goal, which is exactly what the counter-proposal's direction seeks.

Plan documents: 2022 manifesto

Reasoning and quotes

The election manifesto requires investment support for increased housing construction, infrastructure investments in railways and roads as well as full employment as a goal, which is exactly what the counter-proposal's direction seeks. The plan also wants those with large capital assets to contribute more and prioritizes joint investments before tax cuts for a few. Long-term investments and structural reforms before reduced tax on work and benefit caps are thus the plan's line.

Original (Swedish)

Valplattformen kräver investeringsstöd för ökat bostadsbyggande, infrastruktursatsningar på järnväg och vägar samt full sysselsättning som mål, vilket är just det motförslagets inriktning efterfrågar. Planen vill dessutom att de med stora kapitaltillgångar bidrar mer och prioriterar gemensamma investeringar framför sänkta skatter för ett fåtal. Långsiktiga investeringar och strukturella reformer framför sänkt skatt på arbete och bidragstak är därmed planens linje.

  • state investment support for housingdecisive»Vänsterpartiet vill se ett statligt byggbolag, investeringsstöd för ökat bostadsbyggande och en aktiv markpolitik.« (2022 manifesto ↗)“The Left Party wants to see a state housing company, investment support for increased housing construction and an active land policy.”
  • full employment as a goal»Ändå är det bara ett parti i riksdagen som har en politik för full sysselsättning« (2022 manifesto ↗)“Yet it is only one party in the Riksdag that has a policy for full employment”
  • investments in railways and roads»det kommer också skapa väldigt många nya jobb över hela landet genom infrastruktursatsningar på järnväg, vägar, energi, bostäder och välfärd« (2022 manifesto ↗)“it will also create a huge number of new jobs across the country through infrastructure investments in railways, roads, energy, housing and welfare”
  • rejects reduced tax on work»Vänsterpartiet tycker att det är viktigare med en arbetstidsförkortning som kommer alla till del än sänkta skatter för ett fåtal.« (2022 manifesto ↗)“The Left Party believes it is more important with shorter working time that benefits everyone than tax cuts for a few.”

The stance rests on the quoted commitment in the party's own documents; the actual vote deviated. Click the quote to verify it in the document.

SSocialdemokraternaNoNofollows the planexplicit

The counter-proposal's core requirements — full employment as a goal, a cross-party energy agreement, broad tax bases, investments in roads and railways, and state investment support for housing construction — correspond point for point to the plan's own commitments.

Plan documents: 2022 manifesto · party programme

Reasoning and quotes

The counter-proposal's core requirements — full employment as a goal, a cross-party energy agreement, broad tax bases, investments in roads and railways, and state investment support for housing construction — correspond point for point to the plan's own commitments. The election manifesto makes full employment its overarching goal and explicitly calls for a new energy agreement across party lines, while the party programme requires broad tax bases and state support against housing shortage. The plan thereby stands behind the growth and investment orientation the counter-proposal requires.

Original (Swedish)

Motförslagets bärande krav – full sysselsättning som mål, en blocköverskridande energiöverenskommelse, breda skattebaser, investeringar i väg och järnväg samt statligt investeringsstöd för bostadsbyggande – motsvarar punkt för punkt planens egna åtaganden. Valmanifestet gör full sysselsättning till övergripande mål och efterlyser uttryckligen en ny energiöverenskommelse över partigränserna, medan partiprogrammet kräver breda skattebaser och statligt stöd mot bostadsbristen. Planen står därmed bakom den tillväxt- och investeringsinriktning motförslaget kräver.

  • full employment as goaldecisive»Full sysselsättning är vårt övergripande mål.« (2022 manifesto ↗)“Full employment is our overarching goal.”
  • cross-party energy agreement»Efter valet vill vi se en ny energiöverenskommelse för Sveriges bästa, och vill därför föra energipolitiska samtal med andra partier om allt från vindkraft till kärnkraft.« (2022 manifesto ↗)“After the election we want to see a new energy agreement for Sweden's benefit, and therefore want to conduct energy policy discussions with other parties about everything from wind power to nuclear power.”
  • broad tax bases»Robust, hållbart och rättvist skattesystem med breda skattebaser som ger ökat utrymme« (party programme ↗)“Robust, sustainable and fair tax system with broad tax bases that give increased room”
  • state housing investment support»Statligt stöd för att häva bostadsbristen, särskilt för unga.« (party programme ↗)“State support to end housing shortage, particularly for young people.”

Worldstate weighed in: Unemployment at 9.3 per cent — The plan's commitment to active labour market policy and full employment weighs more heavily than the orientation towards tax cuts

MPMiljöpartietNoAbstaindeparts from the planderived

The counter-proposal's core is to shift policy from tax cuts and benefit caps to long-term investments in railways, infrastructure and housing construction, which the plan explicitly demands: expanded railways and new trunk lines, plus developed and expanded state investment support for rental housing.

Plan documents: 2022 manifesto · party programme

Reasoning and quotes

The counter-proposal's core is to shift policy from tax cuts and benefit caps to long-term investments in railways, infrastructure and housing construction, which the plan explicitly demands: expanded railways and new trunk lines, plus developed and expanded state investment support for rental housing. The plan also states that the transition requires large investments that the state must bear. The fact that the counter-proposal is framed as growth-oriented pulls in another direction, since the plan does not see growth as an end in itself; however, the investment commitments weigh more heavily in substance.

Original (Swedish)

Motförslagets kärna är att lägga om politiken från skattesänkningar och bidragstak till långsiktiga investeringar i järnväg, infrastruktur och bostadsbyggande, vilket planen uttryckligen kräver: utbyggd järnväg och nya stambanor samt ett utvecklat och utökat statligt investeringsstöd för hyresrätter. Planen slår också fast att omställningen kräver stora investeringar som staten måste bära. Att motförslaget ramas in som tillväxtorienterat drar däremot åt annat håll, eftersom planen inte ser tillväxt som mål i sig; investeringsåtagandena väger dock tyngre i sak.

  • expanded railwaysdecisive»bygga ut och rusta upp järnvägsnätet för snabba tåg i hela landet och skynda på bygget av nya stambanor för höghastighetståg« (2022 manifesto ↗)“build out and upgrade the railway network for fast trains throughout the country and speed up the construction of new trunk lines for high-speed trains”
  • state investment support for housing»bygga fler klimatsmarta hyresrätter med rimliga hyror, utveckla och utöka investeringsstödet som gjorde det billigare att bygga« (2022 manifesto ↗)“build more climate-smart rental housing with reasonable rents, develop and expand the investment support that made it cheaper to build”
  • large long-term investments»Klimatomställningen kräver stora investeringar.« (party programme ↗)“Climate transition requires large investments.”
  • growth not an end in itself»Ekonomisk tillväxt är i sig inte ett mål – det viktiga är vad som växer« (party programme ↗)“Economic growth is not an end in itself – what matters is what grows”

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.

CCenterpartietNoAbstaindeparts from the planderived

The plan's decisive commitment is long-term, cross-block agreements and structural reforms over short-term efforts, combined with cheaper employment in small businesses and major investments in roads and railways.

Plan documents: 2022 manifesto

Reasoning and quotes

The plan's decisive commitment is long-term, cross-block agreements and structural reforms over short-term efforts, combined with cheaper employment in small businesses and major investments in roads and railways. The counter-proposal's growth pact, cross-block energy agreement, infrastructure investments and high-cost protection for sick-leave costs lie close to these commitments, while the committee's direction builds on temporary household support. The plan's requirement for lowered total tax burden speaks however against a broadened tax base, which makes the support conditional.

Original (Swedish)

Planens avgörande åtagande är långsiktiga, blocköverskridande överenskommelser och strukturella reformer framför kortsiktiga satsningar, kombinerat med billigare anställningar i småföretag och stora satsningar på vägar och järnvägar. Motförslagets tillväxtpakt, blocköverskridande energiöverenskommelse, infrastruktursatsningar och högkostnadsskydd för sjuklönekostnader ligger nära dessa åtaganden, medan utskottets inriktning bygger på tillfälliga hushållsstöd. Planens krav på sänkt totalt skattetryck talar dock emot en breddad skattebas, vilket gör stödet villkorat.

  • long-term cross-block solutionsdecisive»Ett resultatinriktat ledarskap som säger nej till kortsiktiga populistiska satsningar och istället söker långsiktiga och konstruktiva överenskommelser förankrade i mitten.« (2022 manifesto ↗)“Results-focused leadership that says no to short-term populist efforts and instead seeks long-term and constructive agreements rooted in the centre.”
  • lower employment costs small business»Arbetsgivaravgiften behöver sänkas, i ett första skede för ett företags första anställda, för människor som står långt från arbetsmarknaden liksom de som har låga inkomster.« (2022 manifesto ↗)“The employer contribution needs to be lowered, in a first stage for a company's first employee, for people standing far from the labour market as well as those with low incomes.”
  • investments in road and rail»Vi vill rusta upp regionala järnvägar, bygga nya stambanor från norr till söder, höja standarden på det nationella stambanenätet i hela landet och storsatsa på morgondagens tågtrafik — för klimatets och landsbygdens bästa.« (2022 manifesto ↗)“We want to upgrade regional railways, build new main lines from north to south, raise the standard of the national main line network throughout the country and make major investments in tomorrow's train traffic — for the climate and the countryside's sake.”
  • lowered total tax burden»Det totala skattetrycket måste ner nästa mandatperiod. Vi kommer inte att medverka till några skattehöjningar som skadar jobben, det egna sparandet eller gör det dyrare att bo.« (2022 manifesto ↗)“The total tax burden must come down next parliamentary term. We will not participate in any tax increases that damage jobs, personal saving or make housing more expensive.”

Worldstate weighed in: Unemployment 9.3 percent — Reinforces the plan's jobs and entrepreneurship focus over temporary household support.; Inflation down to 0.9 percent — Reduces reasons for acute price-dampening measures and shifts focus to structural reforms.

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.

LLiberalernaYesYesfollows the planderived

The counter-proposal's package is based, among other things, on state investment support for housing construction, which the plan explicitly opposes when it wants to abolish today's expensive building subsidies.

Plan documents: 2022 manifesto · party programme

Reasoning and quotes

The counter-proposal's package is based, among other things, on state investment support for housing construction, which the plan explicitly opposes when it wants to abolish today's expensive building subsidies. The plan's own approach is lower tax on work and enterprise rather than state-controlled investment packages and growth pacts. The fact that the plan shares individual elements, such as eased employer responsibility for sick pay, does not change that the whole is rejected.

Original (Swedish)

Motförslagets paket bygger bland annat på statligt investeringsstöd för bostadsbyggande, vilket planen uttryckligen vänder sig emot när den vill avskaffa dagens dyra byggsubventioner. Planens egen inriktning är sänkt skatt på arbete och företagande snarare än statligt styrda investeringspaket och tillväxtpakter. Att planen delar enskilda delar, som lättat sjuklöneansvar, ändrar inte att helheten avvisas.

  • abolished building subsidiesdecisive»Dagens dyra byggsubventioner ska avskaffas och ett nytt system med behovsbostäder ska införas för grupper med särskilt stora bostadsbehov, såsom våldsutsatta och familjer med mycket svag ekonomi.« (2022 manifesto ↗)“Today's expensive building subsidies shall be abolished and a new system with need-based housing shall be introduced for groups with particularly large housing needs, such as victims of violence and families with very weak finances.”
  • reduced tax on work»Vi vill sänka din skatt oavsett om du är företagare eller anställd.« (2022 manifesto ↗)“We want to lower your tax whether you are an entrepreneur or an employee.”
  • general measures before targeted»Viktigast är generella åtgärder för att förbättra företagsklimatet och infrastrukturen, samt en fungerande offentlig service.« (party programme ↗)“Most important are general measures to improve the business climate and infrastructure, and functioning public services.”
  • eased employer sick pay responsibility»Företagens sjuklöneansvar bör slopas på sikt« (party programme ↗)“Employers' responsibility for sick pay should be abolished in the long term”
KDKristdemokraternaNoYesdeparts from the planderived

The plan makes full employment an important political goal and requires that the state's level of investment in roads, railways and electronic communications remains high in the long term and that energy supply is secured through long-term energy policy with fixed rules.

Plan documents: party programme

Reasoning and quotes

The plan makes full employment an important political goal and requires that the state's level of investment in roads, railways and electronic communications remains high in the long term and that energy supply is secured through long-term energy policy with fixed rules. The counter-proposal's growth and investment direction with energy agreement and infrastructure investments is therefore in line with the plan. However, the plan rejects direct business subsidies, which pulls in the other direction when it comes to state investment support, so the conclusion is uncertain.

Original (Swedish)

Planen gör full sysselsättning till ett viktigt politiskt mål och kräver att statens investeringsnivå i vägar, järnvägar och elektroniska kommunikationer hålls långsiktigt hög samt att energiförsörjningen tryggas genom långsiktig energipolitik med fasta spelregler. Motförslagets tillväxt- och investeringsinriktning med energiöverenskommelse och infrastruktursatsningar ligger därför i linje med planen. Planen avvisar dock direkta företagssubventioner, vilket drar åt andra hållet när det gäller statligt investeringsstöd, varför slutsatsen är osäker.

  • full employment as goaldecisive»Därför är full sysselsättning ett viktigt politiskt mål.« (party programme ↗)“Therefore, full employment is an important political goal.”
  • high level of investment in infrastructure»kommunikationssystemens infrastruktur såsom vägar, järnvägar och elektroniska« (party programme ↗)“the infrastructure of communication systems such as roads, railways and electronic”
  • long-term energy policy»Sveriges energiförsörjning ska tryggas genom långsiktig energipolitik med fasta spelregler.« (party programme ↗)“Sweden's energy supply must be secured through long-term energy policy with fixed rules.”
  • no to direct subsidies»Direkta företagssubventioner avvisas.« (party programme ↗)“Direct business subsidies are rejected.”

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.

MModeraternaYesYesfollows the planexplicit

The plan's economic direction is lower tax on work and pensions, a high-cost protection against high electricity prices and a benefit reform with benefit caps and full-time requirements to strengthen incentives to work.

Plan documents: 2022 manifesto

Reasoning and quotes

The plan's economic direction is lower tax on work and pensions, a high-cost protection against high electricity prices and a benefit reform with benefit caps and full-time requirements to strengthen incentives to work. The counter-proposal's alternative with growth pact, broadened tax base and government investment support for housing construction rests on different logic than the plan's work line and tax-increase cap. The plan therefore speaks against the counter-proposal's demands.

Original (Swedish)

Planens ekonomiska inriktning är sänkt skatt på arbete och pension, ett högkostnadsskydd mot höga elpriser och en bidragsreform med bidragstak och heltidskrav för att stärka drivkrafterna till arbete. Motförslagets alternativ med tillväxtpakt, breddad skattebas och statligt investeringsstöd till bostadsbyggande vilar på en annan logik än planens arbetslinje och skattehöjarstopp. Planen talar därför emot motförslagets krav.

  • lower tax on workdecisive»Sänka skatten på arbete så att din ansträngning lönar sig bättre« (2022 manifesto ↗)“Lower the tax on work so your effort is better rewarded”
  • benefit cap»Införa ett bidragstak så att de samlade bidragen aldrig kan bli högre än lönen från ett arbete« (2022 manifesto ↗)“Introduce a benefit cap so that total benefits never can be higher than income from work”
  • activity requirement»Kräva aktivitet på heltid av den som lever på försörjningsstöd« (2022 manifesto ↗)“Require full-time activity from those living on maintenance support”
  • high-cost protection for electricity»Skydda hushållen mot vinterns elräkningar genom ett högkostnadsskydd« (2022 manifesto ↗)“Protect households against winter electricity bills through a high-cost protection”
SDSverigedemokraternaNoYesdeparts from the planderived

The plan requires lowered sick leave costs and employer contributions for small businesses, upgraded roads and railways throughout the country and taxes that do not hinder Swedish companies in competition.

Plan documents: 2022 manifesto

Reasoning and quotes

The plan requires lowered sick leave costs and employer contributions for small businesses, upgraded roads and railways throughout the country and taxes that do not hinder Swedish companies in competition. The counter-proposal's growth orientation with cost protection for sick leave, infrastructure investments and a more efficient tax base responds to these commitments. The plan sees growth and good business conditions as the prerequisite for welfare.

Original (Swedish)

Planen kräver sänkta sjuklönekostnader och arbetsgivaravgifter för småföretag, upprustade vägar och järnvägar i hela landet och skatter som inte hämmar svenska företag i konkurrensen. Motförslagets tillväxtinriktning med högkostnadsskydd för sjuklöner, infrastruktursatsningar och en effektivare skattebas svarar mot dessa åtaganden. Planen ser tillväxt och goda företagsvillkor som förutsättningen för välfärden.

  • lowered sick leave costsdecisive»Sänka arbetsgivaravgiften och sjuklönekostnaderna för småföretag« (2022 manifesto ↗)“Lower employer contributions and sick leave costs for small businesses”
  • upgraded infrastructure»Rusta upp väg- och järnvägsnätet i hela landet« (2022 manifesto ↗)“Upgrade the road and railway network throughout the country”
  • viable industry»Skapa förutsättningar för en livskraftig industri« (2022 manifesto ↗)“Create conditions for a viable industry”
  • competitive taxes»Ha skatter på en nivå som inte hämmar svenska företag i den internationella konkurrensen« (2022 manifesto ↗)“Have taxes at a level that does not hinder Swedish companies in international competition”

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.

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Sources and documents

Documents under consideration

Source: The Swedish Parliament