Social Democrats’ youth wing pushes for progressive wealth tax ahead of election

The youth branch of Sweden’s Social Democrats is urging the party to introduce a progressive wealth tax, a proposal the leadership has rejected, SVT Nyheter reports.

SSU, the Social Democratic Youth League, is calling for higher taxes on the wealthiest individuals to fund welfare and housing support for young people. The demand aligns with similar proposals from the Left and Green parties ahead of this autumn’s election.

“The incomes of the ultra-rich in our country don’t come from work—they come from wealth, from selling luxury yachts, villas, and properties,” said SSU chair Moska Hassas. “We believe it’s important to tax this to reduce inequality in society.”

Hassas argued that young Swedes have only experienced welfare cuts, and that a wealth tax could help restore public services and assist first-time homebuyers. She cited a 2025 party congress decision supporting “fairer redistribution” in tax policy, where higher earners should contribute more.

The Social Democratic Students’ Association has also backed the idea, proposing a “billionaire tax” earlier this year. “Sweden has become a tax haven for wealthy capital owners,” said its chair, Elfva Barrio. “When young people can’t find housing or jobs, that’s unacceptable. A billionaire tax could rebuild trust in society.”

However, Social Democratic leader Magdalena Andersson dismissed the proposal. “This is not something our party congress has decided on, nor something we are proposing,” she said. The party’s tax review instead focuses on a bank tax, higher capital gains taxes for top earners, and increased income tax for those earning over 70,000 SEK monthly.