Category Archive: 3.) Personal Finance

Swiss government deficit larger than predicted

The federal government spent less in 2023 than budgeted but overestimated revenue. The net effect was an additional shortfall of CHF 1.4 billion, reported SRF.

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Price cuts on 350 medicines in Switzerland

With the ever rising cost of of Swiss healthcare, the government has been hunting for savings. This week it announced that it has ordered price cuts on 350 medicines from 1 December 2023, reported RTS.

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Swiss inflation returns in October

Consumer prices increased by 0.1% in October 2023, reported Switzerland’s Federal Statistical Office (FSO) this week.

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Proposal for budget Swiss health insurance

Last weekend, the PLR/FDP unveiled a plan to create a budget low cost health insurance option in Switzerland, reported RTS.

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Switzerland needs to be able to recharge 2.8 million vehicles

This week, the Swiss Federal Office of Energy (SFOE) published its predictions and ambitions for electric transport infrastructure.

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Switzerland to tax electric vehicles from 2024

Vehicles imported into Switzerland are subject to a 4% tax, with the exception of electric vehicles that attract none. This week, the government decided to end the exception from the beginning of next year.

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Swiss government aims to cut 2 billion from 2024 budget

Like many governments across the world, Switzerland’s federal government is spending more than it collects. Extraordinary spending on Covid and refugees has pushed Switzerland’s finances into the red, a situation Karin Keller-Sutter, the current finance minister, hopes to eliminate by 2024.

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Retirement at 68.2 to cover Swiss pension shortfall, says UBS

Swiss resident’s are regularly reminded of the large financial gap is Switzerland’s state pension system. Despite this, several attempts at reform have failed to gain sufficient support. Those that have still leave a large shortfall. On 24 January 2023, UBS published four additional reform scenarios. Only the fourth, with a life expectancy adjusted retirement age of 68.2 years eliminates the current projected shortfall.

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Electricity prices could rise more in 2024, suggests head of Swiss regulator

At a meeting in Bern on 19 January 2023, Werner Luginbühl, the head of Elcom, Switzerland’s electricity regulator, called on the sector to be careful to manage consumer expectations, reported RTS.

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Swiss rents and property prices up in 2022

A sharp rise in rent in December 2022 (+1.1%) left the average Swiss rent 4.3% higher than at the beginning of 2022, according to the Swiss Real Estate Offer Index, published on 4 January 2023 by SMG Swiss Marketplace Group. This annual jump of 4.3% exceeds the annual CPI increase of 2.8% announced this week.

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Bern against federal plan to subsidise health insurance 

A federal initiative aimed at subsidising health insurance premiums once they exceed 10% of disposable income met with resistance in Bern this week, reported RTS.

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No rise in Switzerland’s rent rate

Every three months the rate of interest used to set the rents in Switzerland is reviewed. If it goes down some renters have the right to request a decrease in rent. If it goes up landlords can push up rents. This time the rate remained at 1.25%, however it looks set to rise next year.

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Pay rise agreed for Switzerland’s public sector workers

On 2 December 2022, Switzerland’s Federal Council agreed to boost the salaries of those working for the federal government by 2.5% in 2023.

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Inter-cantonal tax transfers to rise 5 percent in 2023

On 16 November 2022, Switzerland’s federal government announced the sums that will be transferred between the nation’s statelets or cantons in 2023, a mechanism aimed at ensuring wealthy cantons support those with weaker economies.

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Vote on pension reform most divisive in Swiss history

Switzerland’s recent vote on state pension reform on 25 September 2022, divided men and women, reported RTS.

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Swiss construction workers protest over hours and pay

After construction workers went out on strike for two days in French-speaking Switzerland, construction workers protested in Zurich over hours and pay on 11 November 2022, reported RTS. Photo by Rodolfo Quirós on Pexels.comWith inflation in Switzerland running at 3%, construction workers are demanding higher pay. However, the construction industry has responded with an offer of better pay tied to higher maximum hours. The industry would like...

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Bank predicts home rent rises in Switzerland

According to the bank Raiffeisen, a future rental housing crisis is likely in Switzerland as the home vacancy rate moves below 1% in 2024, reported 20 Minutes.

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No price rises for Swiss public transport in 2023

For the seventh consecutive year, the price of tickets on Swiss public transport will remain unchanged. It will also become easier to buy tickets for bicycles and canine companions, reported RTS.

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Two votes launched against Swiss tax and pension mariage penalty

In Switzerland, it pays not to be married. Married couples pay higher taxes and receive lower state pensions than unmarried couples. Two referenda were launched this week to change this, reported RTS.

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Swiss state employee pay and numbers should be cut, argues party

The Swiss People’s Party (UDC/SVP) argued this week that the CHF 6 billion spent on state employees should be cut, reported 20 Minutes.

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