Swedish Social Democrats to raise jobs, welfare spending by 40 billion SEK - paper

STOCKHOLM (Reuters) - Sweden's Social Democratic party, which looks set to form the country's next government after elections this month, said on Tuesday that it would increase spending on welfare, schools and jobs by 40 billion Swedish crowns ($5.7 billion)(3.44 billion British pound) if elected.

In an opinion piece in the newspaper Dagens Nyheter before Tuesday's release of the party's election manifesto, four top Social Democrats said the only tax they would cut would be on income for pensioners. Taxes on banks and those with high incomes would be raised.