Financial industry dismayed as Denmark to fund early retirement with new tax hikes

Denmark's Prime Minister Mette Frederiksen. Picture: Mads Claus Rasmussen / Ritzau Scanpix

Denmark’s Social Democrat-led government drew the ire of the country’s financial industry by unveiling 3 billion kroner (€403m) worth of additional taxes to fund early retirement for certain categories of workers.

The government’s plan includes a targeted corporate tax on banks and pension funds and higher levies for the most wealthy investors on their stock market returns, Prime Minister Mette Frederiksen told reporters.