Sweden Starts Probe Into Abuse of Crisis Support Cash
(Bloomberg) -- Sweden's Justice Minister Morgan Johansson said the government is starting an inquiry amid concerns that systems created to provide support during the Covid-19 crisis are being abused.
“Some people are exploiting the opportunity to take maximum profit in this situation,” Johansson said at press conference on Thursday. “We can't be naive.”
Johansson pointed to the fact that a number of companies are still paying dividends to shareholders, while at the same time accepting state aid.
“This is of course totally indecent,” Johansson said.
Swedish Firms Pay Out Billions to Owners Despite Pleas to Stop
Sweden's Social Democrat-led government has so far initiated crisis-packages amounting to 170 billion kronor ($17 billion), more than 3% of the country's GDP. Johansson said more support is coming.
“As the new measures were drafted at high speed, there obviously is a risk of loopholes,” he said. “It's important that we fill them.”
©2020 Bloomberg L.P.
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