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Government of Finland aims for green billion investments through tax incentives

20/04/2024, 10:00
Government of Finland aims for green billion investments through tax incentives
Stock photo. Photo source: Unsplash
Dan Görgü Dan Görgü

Otto Andersson, a Member of Parliament from the Swedish People’s Party who was involved in negotiating the new model, tells Svenska YLE: “We need to get these investments, and that’s why it’s extremely important that the government creates a new incentive for major green transition investments.”

The proposed model means that companies can deduct up to 20 percent of investment costs from taxation, up to €150 million, once operations become profitable. The incentive only applies to investment decisions made before December 31, 2025.

Andersson admits SSAB’s decision served as a wake-up call, saying: “We have every opportunity to succeed, but we need to act quickly.” However, the opposition criticizes the government’s inconsistent environmental policy.

Source: Svenska YLE

The translation was written by an AI system, though the original text was authored by a human.