Changes to Swiss law on renting recently passed by parliament have met with public resistance. This week, enough signatures were collected to trigger a vote aimed at overturning the work of parliament on rental law reform, according to RTS. The two changes, which would make it easier for landlords to move into their own properties […]
Switzerland and UK agree post-Brexit financial services trade deal
More than seven years after a slim majority (51.9%) of the UK electorate voted to leave the EU, Switzerland and the UK have agreed a deal that clears the way to more open cooperation in the financial services sector, helping to restore the pre-Brexit arrangement between the two nations. On Thursday, Switzerland and the UK […]
Swiss central bank leaves interest rate unchanged
On 14 December 2023, the Swiss National Bank (SNB) said it was ending its interest rate tightening cycle after a clear slowdown in inflation. With inflation rising more slowly than the central bank’s 2% ceiling (it was 1.4% in November 2023), the SNB left its key interest rate at 1.75% for a second consecutive meeting. […]
Zurich world’s most expensive city (again)
According to the Economist’s annual ranking of cities, Zurich came out top in the report published on 29 November 2023. Tied in first place this year were Singapore and Zurich. Singapore is no stranger to the top spot: it has ranked as the priciest place to live in nine of the past 11 years. Groceries, […]
Swiss deficit: federal government discusses higher taxes
Switzerland, a nation with a reputation for well managed finances, like much of the world is struggling to cover rising costs. Projected spending on the military and state pensions are key challenges. Spending on refugees and healthcare are additional head winds. The federal government has been looking hard for savings. However, this week talk turned […]
Electric vehicles to be taxed next year in Switzerland
From 1 January 2024, electric vehicles (EV) will be taxed like their petrol and diesel equivalents, announced Switzerland’s Federal Council this week, reported RTS. Cars imported into Switzerland suffer a 4% tax. EVs are currently exempted from this tax. From the beginning of next year all cars including EVs will be taxed. The exemption, introduced […]
Swiss finance minister wins 2023 obfuscation award
Every year, investigativ.ch, an association of investigative journalists, bestows an award on the public figure it deems to have exercised the lowest levels of transparency during the year. This year the award went to Karin Keller-Sutter, Switzerland’s minister of finance, for the secret decision making process surrounding the fire sale of the bank Credit Suisse […]
Switzerland increases federal spending forecast
Every quarter, Switzerland publishes updated spending forecasts for the current year. On 25 October 2023, it raised the 2023 spending forecast by CHF 300 million to 81.6 billion, an increase of 0.4% on the previous quarter, but still below the original budget. The revision takes the ordinary budget deficit from an original CHF -700 million […]
Swiss train fares hike due to government pressure reveal documents
Train and other public transport fares in Switzerland are set to rise 3.7% on average from 10 December 2023. This week it was revealed that the hike was pushed by the federal government, reported Swiss broadcaster SRF. The decision to increase fares came after the federal government put pressure on Swiss Rail to push the […]
Rent disputes multiply in French-speaking Switzerland
The costs of mortgages and building maintenance are rising. Rents are following. In French-speaking Switzerland tenant arbitration organisations are receiving a deluge of complaints and requests for help from tenants, reported RTS. In Switzerland, it is common for rental agreements to contain a clause that allows rents to be adjusted up or down based on […]
