Areas of responsibility
The Ministry of Finance is responsible for handling government business in the following areas:
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Central government budget and fiscal policy
The overall objective of fiscal policy is to create as high a level of welfare as possible. The Government is therefore giving priority to measures that contribute to Sustainable economic growth and high employment level, welfare for all and stable economic development. The Government uses the budget to lay down the direction of economic policy.
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Taxes
One of the tasks of the Ministry of Finance is to formulate proposals for legislation on taxes and social insurance contributions. Another task is to work to ensure that the government agencies concerned are modern, effective and run in an appropriate way. The Ministry converts EU directives relating to taxes into Swedish legislation, produces evidence to support Swedish views on different issues and represents Sweden in EU negotiations.
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The Ministry of Finance works to ensure that legislation is up-to-date. The legislation must help promote an efficient financial system that meets societys demands for stability and consumer interests in reliable protection. It must also create a good environment for product development, new business starts and competition.
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International cooperation
Swedens economy is affected by events in the global economy. The Ministry of Finance is responsible for Swedish participation in international economic and financial cooperation and prepares the ground for Sweden to take a position on a broad range of economic policy issues.
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Local authorities
Sweden has a long tradition of local self-determination. Local authorities are independent bodies, which are free to make their own decisions within certain limits. The Ministry of Finance is responsible for the general legislation applying to different types of local authorities. The Ministry is also responsible for allocating general grants to local authorities and is in charge of the equalisation system.
