Denmark to Make Banks, the Rich Fund Its Early Retirement Plan

Aug. 18, 2020, 12:21 PM

Denmark’s Social Democrat-led government drew the ire of the country’s financial industry by unveiling 3 billion kroner ($480 million) worth of additional taxes to fund early retirement for certain categories of workers.

The government’s plan includes a targeted corporate tax on banks and pension funds and higher levies for the most wealthy investors on their stock market returns, Prime Minister Mette Frederiksen told reporters Tuesday.

The new levies, which are due to come into force in 2023, will now need to be approved by parliament.

The idea of granting the right to early retirement for citizens who carried out particularly...

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