The Government has now decided on a referral to the Council on Legislation, which means that interest deductions on loans without collateral will be phased out within two years.
"The Government has decided on a referral to the Council on Legislation, which means that interest deductions on loans without collateral, such as housing, vehicles, or securities, will be phased out over two years. The proposal will be included in the budget bill for 2025," the Government writes in a press release.
Higher Debt
The proposal, which was launched by the Government last autumn, has come about as a result of the increasing debt among Swedes. Now, the Government is presenting a concrete proposal to remove the tax benefits of certain types of loans.
According to the proposal, it will no longer be possible to deduct interest on consumption loans without collateral. However, it will still be possible to deduct interest on loans for housing, cars, boats, and securities.
The latter, the right to deduct interest on loans for shares, was not included in the original proposal, which led to protests from many in the stock market circles.
"If the Government chooses to proceed, Aktiespararna strongly recommends that securities loans be included among the loans that will continue to be eligible for interest deductions," Aktiespararna wrote in their response to the referral.
Memorandum in the Spring
This is what the Government wrote in the memorandum presented in the spring:
"Interest on other types of loans will thus not be deductible, even if collateral has been provided for the loan. This applies, for example, to interest on securities loans."
Why have you changed your minds?
We have rather deepened our understanding. From the beginning, the idea was to remove loans without collateral, but we said from the start that we were open to identifying housing and vehicles as examples. Then we had an openness, is it possible to value the underlying assets so that they become secure enough? And after the referral round, we feel confident that listed assets are secure enough, says Niklas Wykman.
