Oxfam: Sweden plummets in global equality index, worst in the Nordics 

Sweden has fallen 14 places in 4 years in the global Commitment to Reducing Inequality Index (CRII) produced by Oxfam in collaboration with Development Finance International (DFI). Sweden remains the lowest ranked country in the Nordic region, and is also losing position among European and OECD countries.

The Commitment to Reducing Inequality Index ranks 164 countries according to policy decisions and their impact on inequality. The index is based on three areas that are crucial to reducing economic inequality: tax policy, investment in welfare, and workers' rights. Since the last survey two years ago, Sweden has dropped 4 places and is now in 24th position, still the worst in the Nordic region.

"Unfortunately, Oxfam notes that Sweden has failed to reduce inequality for decades. And the policies currently being pursued mean that the gaps continue to widen. The latest state budget is a clear example of how the government and the Sweden Democrats prioritize those who can already afford it. Inequality leads to insecure societies, where discontent grows and trust between people decreases."

Suzanne Standfast, Secretary General Oxfam Sweden

Sweden's decline in this year's index is mainly due to changes in tax policy, and stems from the fact that over the past two years the government has reduced taxes for the very richest and failed to redistribute to the most vulnerable. Over the past two years, taxes have been reduced for the richest through, among other things, a reduction in marginal tax rates, which from next year will mean an additional SEK 23 billion lost to society in tax revenue. In addition to the tax cuts, Sweden has also fallen back due to the dismantling of welfare, which is reflected in long waiting lists for care and major cuts in schools.

- Current tax policies benefit the very richest, while those living in poverty have to bear the greatest burden. This leads to a concentration of resources in the hands of a few, while ordinary citizens struggle with rising living costs and reduced access to essential welfare services. This is largely due to inadequate tax systems and dismantled welfare," said Suzanne Standfast, Secretary General of Oxfam Sweden.

Developments in Sweden are following a worrying global trend, Oxfam notes in this year's Equality Index. 9 out of 10 countries in the index are pursuing policies that are likely to increase levels of inequality.

"For the first time since the index was created in 2017, the majority of countries are falling in all three areas of the index. This reflects the fact that it is a tough economic time across the world, but those bearing the brunt of the economic crisis are low- and middle-income earners. Countries are cutting investment in education, health and social protection - and failing to tax the richest fairly."

Suzanne Standfast, Secretary General Oxfam Sweden

Oxfam wants to see comprehensive action to reduce inequality and invest in prosperity for all.

- Sweden needs a progressive tax system, with a new wealth tax that could generate SEK 158 billion annually and ensure that the very richest help finance the common good, with a small part of their wealth. Both power and resources need to be redistributed to tackle inequality. We also need to collect statistics on household wealth and debt to make better policy decisions," says Suzanne Standfast, Secretary General of Oxfam Sweden.

Background

• The Commitment to Reducing Inequality Index is a biennial equality index produced by Oxfam together with Development Finance International (DFI).
• This is the fifth edition of the CRII, which ranks 164 countries' commitments to reducing economic inequality.
• The report specifically analyzes measures in three areas that are crucial to fighting economic inequality: welfare, taxes, and workers' rights.
• Read more at inequalityindex.org.