Speaking with the business daily Talouselämä, millionaire business mogul Björn Wahlroos laid out a catalogue of reforms to help the next government lift the economy out of the doldrums.
Perhaps the country’s best-known millionaire, Wahlroos called on the incoming administration to implement measures such as halving corporate taxes to 10 percent, reducing the inheritance tax to four percent, and overhauling the unemployment benefits system.
“I forecast investment and jobs. If we implement changes to corporate and capital taxes I can almost guarantee that the risk of marginalization will fall and the employment rate will increase, perhaps even soar,” Wahlroos told Talouselämä.
7 billion in sales, cuts and tax hikes
The well-known business figure outlined other aspects of his wish list, which would see tax and spending cuts to the tune of four billion euros, and would also rake in seven billion in tax increases, public spending reductions and the sale of state assets.
The laundry list included a welter of measures aimed at easing the climate for businesses to grow and invest. It also aims to reduce public spending by measures such as a four-year freeze on social benefits, rolling back cuts to value added tax, applying property taxes to fields and forests, halving development aid, sliding scale unemployment benefits, eliminating free universal health care, introducing fees for university students and selling off state assets, among others. The list also includes overhauling basic social security.
"Social security reform means that you don't immediately lose income benefits if you accept a job. This creates an incentive, which will prevent marginalisation," Wahlroos explained.
Swedish tax climate more friendly
Last September the business magnate indicated that he’d changed his country of residence to Sweden, reportedly because of the western neighbour’s more moderate tax régime.
At the time then-Finance Minister Jutta Urpilainen dubbed the move “regrettable”.
“Wahlroos has received a lot from Finnish society: he was educated here, and has certainly made use of those services which are funded by taxpayers’ money. By changing his country of residence, he’s showing that he doesn’t value these things, and that’s unfortunate,” Urpilainen said.
Wahlroos is chairman of the board of Sampo Group, Nordea Bank and biofuels company UPM. His relocation to Sweden means he is now eligible to join Sweden’s health insurance system and can also vote in local elections.