On 10 November 2022, Switzerland and the UK, two nations outside the EU, signed an agreement deepening the relationship between the two nations’ research and innovation communities. The agreement was signed by UK Minister of State for Science, Research and Innovation, George Freeman MP, alongside Federal Councillor Parmelin, Head of Switzerland’s Federal Department of Economic […]
Swiss inflation stable in October
Switzerland’s consumer price index (CPI) remained stable in October 2022 compared with the previous month, reported Switzerland’s Federal Statistical Office (FSO) this week. This left year-on-year inflation at the end of October 2022 at 3%, the same level that it was at the end of September 2022. The stability of the index compared with the […]
Federal commission takes aim at minimum wages
Across most of Switzerland there is no minimum wage. However, the cantons of Neuchâtel (CHF 20 per hour), Geneva (CHF 23 per hour), Jura, Ticino and Basel-City have them. This week, a federal parliamentary commission voted in favour of challenging the applicability of these minimum wages, reported RTS. If a national negotiation between employers and […]
Swiss pension funds hit hard by markets
At the end of 2021, Swiss employment-based pensions fund in aggregate held assets worth 18.5% more than what they owed. By 30 September 2022, they owed 0.5% more than they held in assets, according to government data published recently. Switzerland has a three layered pension system. The first layer is a state pension, known as […]
Swiss electricity consumption down 13 percent
The consumption of electricity in Switzerland in September 2022 was 13% lower the the same month last year, according to grid manager Swissgrid, reported RTS. The combined electricity consumption of Swiss businesses and households in September 2022 was lower that the 7-year average for the month, suggesting that the federal government campaign to encourage lower […]
Vast majority of Swiss mums in paid work in 2021
In 2021, 82% of mothers in Switzerland were economically active, according to data published by the Federal Statistical Office (FSO) this week. The rate of mothers working in 2021 (82%) was 22 percentage points higher than it was in 1991 (60%). At the same time fathers were not working at a significantly lower rate. In […]
Switzerland expects government surplus in 2022 and lower public debt from 2023
After a roughly CHF 40 billion blow to Swiss public finances due to the Covid pandemic, Switzerland’s financial outlook is beginning to look positive, according to a recent government press release. Figures from the Federal Finance Administration (FFA) forecast a surplus of CHF 1.5 billion in 2022, an amount equivalent to 0.2% of GDP. In […]
Swiss fines for face covering reduced to 1,000 francs
On 7 March 2021, a vote to ban face covering at a federal level was accepted by 51.2% of Swiss voters. Since then the government has been working on implementing the decision. This week it presented the details. After the latest consultation on the subject the Federal Council decided on Wednesday on a maximum fine of CHF 1,000 instead of […]
More than 70% of Swiss homes heated by burning stuff
Statistics published this week by the Federal Statistical Office (FSO), show that 70.1% of homes in Switzerland are heated by burning either mazout (heating oil), gas or wood. Across Switzerland 40.7% of homes are heated with mazout or heating oil. A further 17.6% are heated by burning gas and 11.8% by burning wood. These high […]
Inflation turns negative in Switzerland in September
In September 2022, Switzerland’s consumer price index (CPI) fell by 0.2% compared with the previous month, according to data from Switzerland’s Federal Statistical Office (FSO). The 0.2% month-on-month fall was due to falling prices for fuels, heating oil, hotels and related accommodation. Falls in the prices of these items were offset by higher clothing and […]
