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New Danish Bank Tax May Be Delayed Due to Political Hiatus

April 16, 2020, 12:21 PM

Denmark is postponing about 40% of the bills it planned to present to parliament this year due to the Covid-19 pandemic, the government said in a statement.

Among them is a proposal on early retirement, which played a key role in helping the Social Democrats win the June election. The delay is expected to impact a new tax on banks designed to finance the early retirement program.

The government of Prime Minister Mette Frederiksen has yet to disclose details of the tax, which is expected to generate around 1.5 billion kroner ($220 million) in revenue.

To contact the reporter on this story:
Morten Buttler in Copenhagen at mbuttler@bloomberg.net

To contact the editors responsible for this story:
Christian Wienberg at cwienberg@bloomberg.net

Nick Rigillo

© 2020 Bloomberg L.P. All rights reserved. Used with permission.