The Budget Bill for 2020 will be presented on Wednesday next week, but already on Thursday a budget news was presented by Prime Minister Stefan Löfven (S), Deputy Prime Minister Isabella Lövin (MP), Finance Minister Magdalena Andersson (S) and Finance and Housing Minister Per Bolund (MP) - with focus on Sweden's elderly population. The press conference was held at the Seniors' House in Jönköping.

Three bets

These are three things that, according to the Government, are intended to improve the economic conditions for pensions in the long run: Reduced tax for over one million people over 65, increased guarantee pension and housing allowance for 675,000 pensioners and continued investments in the elderly.

- We think that those who have laid the foundation for our welfare deserve our thanks, not an unfair taxation, says the finance minister.

The tax cuts apply to pensioners who have incomes above about SEK 17,000 per month and are expected to come into effect in January 2020. For lower incomes, the gap between tax on pensions and work has been gone since 2018, according to the government.

"Improvement not least for women"

The basic level of the guarantee pension is increased by up to SEK 200 per month. The ceiling in the housing supplement is raised from SEK 5,600 to SEK 7,000 for the unmarried person. For married pensioners, it is increased from SEK 2,800 to SEK 3,500 per month.

- This is an improvement, not least for women, often older and single women, who take part in the basic protection to the greatest extent, says Magdalena Andersson.

The investment is estimated to cost approximately SEK 2.2 billion.

Interventions for people with dementia

The government will also invest 950 million on contributions for the elderly in general. The money will, among other things, go to efforts for better care for people with dementia, investments in new housing for the elderly and to break the loneliness of the elderly.

- We know that there are more Swedes living longer, so this will be something that municipalities around Sweden will work with in the coming years, says Andersson.

The 2020 budget is presented in collaboration between the government parties, the Center Party and the Liberals.