An anti-Government demonstration of between 75 and 100 thousand middle-class white-collar workers is said to have embarrassed the Swedish Prime Minister, Olof Palme.
1. AV Businessmen and women marching over bridge (MUTE) 0.13
2. GV & SV Demonstrators with banners outside Riksdag (parliament) (2 shots) 0.32
3. GV PAN Demonstrators listening to speaker 0.49
4. TV PULL BACK Demonstrators applauding 1.00
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Background: STOCKHOLM, SWEDEN
An anti-Government demonstration of between 75 and 100 thousand middle-class white-collar workers is said to have embarrassed the Swedish Prime Minister, Olof Palme. Led by businessmen and women, and backed by the non-Socialist Opposition, the demonstration on October 4 was the biggest seen in Stockholm this century, exceeding the Swedish farmers' march of 1914 which brought down the government of the day. It was the culmination of a 10-million pound (15-million dollar) campaign spearheaded by the Swedish Employers' Confederation to protest against Government proposals for trade union-run investment funds to buy shares in Swedish companies. Olof Palme and his Social Democratic Government are said to have staked their political reputation on the plan. Mr Palme has defended the funds as an important means of securing investment and jobs. He was speaking at the opening session of the Riksdag (parliament) while the protestors rallied outside. According to the Palme plan five regional union-run funds would be inaugurated, each controlled by a nine-member board containing a majority of union nominees. They would use pay-roll levies and a profit tax to buy company stock, with control limited to a maximum of 49.9 per cent. A return to employees would be paid through the national pensions system. The Riksdag vote on the proposal is timed for January. The Swedish trade union confederation, which has backed the idea, said the demonstration against it would go down in history as "a fiasco". But opinion polls indicate that only one in five Swedes support the investment scheme.