P.M. Briefing : Forced Savings Proposed in Sweden
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From Times wire services
STOCKHOLM — Finance Minister Kjell-Olof Feldt proposed today that the government compel Swedes to save money in an effort to cool the country’s overheated economy.
Under his plan, private citizens and companies would add 4% to their tax bills, which would go into savings funds that could not be withdrawn for 16 months, Feldt told a news conference.
The plan, if approved next month by Parliament, would take effect in September and last until December, 1990.
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