Switzerland is one a few countries that taxes wealth, a tax borne by a relatively small percentage of the population, due partly to thresholds and allowances. On 18 June 2023, citizens in the canton of Geneva will vote on whether to boost the rate of wealth tax applied to assets above CHF 3 million over […]
Switzerland to vote (again) on Covid laws
On the 18 June 2023, Swiss voters will be asked to accept or reject the government’s extension of the COVID-19 Act on 16 December 2022. As a precaution, Switzerland’s parliament extended the period of application of the legal provisions on certain measures in the COVID-19 Act from mid-December 2023 until mid-2024. The law enables the […]
Swiss to vote on a plan to cut fossil fuel use
On the 18 June 2023 the Swiss electorate will vote on the Federal Act on Climate Protection Targets, Innovation and Strengthening Energy Security. The question before voters is whether to accept the government’s counter-proposal to the Glacier Initiative, a popular vote formulated in 2018. The original Glacier Initiative was aimed at drastically reducing the use […]
Swiss to vote on higher company taxes
On 18 June 2023, Swiss voters will choose whether to accept the federal government’s plan to raise the company tax rate applied to large multinationals to a minimum of 15%. The minimum 15% tax, which will apply to any company with annual revenues of Euro 750 million or more, has essentially been forced on Switzerland […]
Evacuated rock slide town residents allowed to briefly return
The population of Brienz in the Swiss canton of Graubunden were briefly allowed to return to the town this week after being evacuated on 12 May 2023, reported SRF. Two 90-minute time slots were planned on Wednesday with limits of 30 people at a time, reported the broadcaster. The visits were aimed at enabling the […]
Swiss parliament responds to initiative to raise retirement age
Switzerland’s ageing population is undermining the future financial health of its state pension system, a challenge facing much of the world. A number of Swiss politicians believe later retirement is the only way to meaningfully confront the issue. Andri Silberschmidt, a member of the PLR/FDP in Zurich, along with others, has launched an initiative to […]
UBS gets 9 billion franc government guarantee for Credit Suisse deal
On 9 June 2023, UBS closed a deal with the Swiss government to cover 9 billion francs of potential losses it could incur from its takeover of Credit Suisse Group, reported Bloomberg. The guarantee relates to a specific portfolio of Credit Suisse’s assets currently valued at CHF 44 billion, equivalent to roughly 3% of the […]
Swiss government sees need to regulate Nutri-score
This week, Switzerland’s Council of States decided the federal government should create a framework for the use of Nutri-Score to avoid some food producers being disadvantaged, reported SRF. Switzerland’s upper house is no doubt responding to complaints by Swiss cheese producers and fruit growers that the nutritional labelling system, which was developed in France, risks […]
Switzerland’s highest rail crossing train turns 50
On 3 June 2023, the Bernina Express turned 50. Launched as a tourist experience on 3 June 1973, the train runs between Chur, Switzerland and Tirano, Italy. The train link is the highest train crossing in the Alps and a portion of it forms part of Glacier Express journey, which links the Zermatt and St. […]
No money for refugee container accommodation in Switzerland
Some in Bern hatched a plan to build accommodation out of shipping containers to cope with the expected influx of refugees into Switzerland. However, this week, the Council of States, Switzerland’s upper house, rejected a funding request for the plan, reported SRF. The Council of States had already spoken out against the idea last week […]
