Sweden has more billionaires per capita than the US

What do Spotify, Skype and Klarna have in common? They were all born in Sweden, which has twice as many dollar billionaires per capita as the US, and nearly thirty times as many kronor billionaires (each worth at least $92 million) as three decades ago. Not bad for a country with left-leaning governments for most of the past century and one of the highest overall tax burdens in the OECD. So how did Sweden do it? Partly by leaning less far to the left. The right-wing coalition currently in power has lowered corporate tax rates and funnelled venture capital to “impact” start-ups, broadly defined. Other wealth-creation factors have deeper roots. Sweden offered tax rebates on home computers in the 1990s that “wired or connected all of us much faster than other countries,” one entrepreneur tells the BBC. And the biggest corporate tax cut came in 2013, near the start of a long period of low interest rates and growing appetite for high-risk investment. All in a country with a top rate of tax over 50 per cent. Britain’s Labour Party may want to watch and learn.