Concerns Rise Over Conflict of Interest Reporting Among Swedish Ministers
Swedish ministers face criticism over failure to report conflicts of interest related to stock ownership.
Key Points
- • Only one out of nine ministers with stock reported conflicts of interest.
- • Three ministers with stocks voted on bank tax without declaring conflicts.
- • Current practices raise concerns about adherence to legal standards.
- • Conflicts reported only twice by civil minister Erik Slottner regarding wind power.
A recent review has unearthed significant gaps in conflict of interest reporting among Swedish government ministers, particularly concerning their ownership of stocks linked to government decisions. According to findings by SVT Nyheter, only one out of nine ministers with stock holdings disclosed any conflict of interest during their current term, raising serious questions about transparency and adherence to legal standards.
The Administrative Procedure Act mandates that ministers must refrain from participating in decisions where their impartiality could be questioned, especially if they hold financial interests in related areas. Yet last year, three ministers who owned shares in Handelsbanken and Nordea took part in crucial decisions regarding a bank tax without declaring their conflicts. Despite ongoing scrutiny regarding their stock management practices, none reported any conflicts during subsequent discussions.
Critics have pointed out that there have only been two instances of reported conflicts of interest due to stock ownership, both declared by civil minister Erik Slottner concerning wind power investments. However, even Slottner's declarations have been inconsistent, as he did not report a conflict in a later wind power decision.
This situation has prompted calls for stronger accountability measures to ensure ministers fully disclose their financial interests to protect the integrity of government processes.