This week, Switzerland’s federal government decided to increase aid money to Covid hit businesses to CHF 1 billion. Before this announcement, Bern had already committed to providing CHF 400 million to struggling businesses. Funding for the first CHF 400 million is split 50-50 between cantonal and federal tax payers. The additional CHF 600 million will […]
Unemployment rises in third quarter of 2020 in Switzerland
Between the 3rd quarter 2019 and the 3rd quarter 2020, the number of people employed in Switzerland fell by 0.4% (–21 000). In addition, weekly hours worked per employee decreased by 2.7%. During the same period, the unemployment rate in Switzerland as defined by the International Labour Organisation (ILO) increased from 4.6% to 5.3%. At […]
The Swiss tax money transfers in 2021
Swiss cantons have very different tax bases, tax rates and costs. To even things up rich cantons are required to help those with less money via a system set up in 2008 known as the péréquation financière nationale (French) or Nationaler Finanzausgleich (German). This week, the government decided on next year’s payments. The system relies on […]
Public worker absenteeism costs Geneva 285 million francs a year
Public worker absenteeism in Geneva costs at least CHF 285 million, according to Heidi.news, which calculated the sum based on information contained in an internal document. According to the news service the cost of absenteeism, which continues to rise, is equivalent to 11% of the 2.54 billion spent public sector workers’ salaries in 2019 and […]
New Swiss initiative to further restrict construction
Land use is strictly governed in Switzerland. However, a new initiative, which aims to increase construction restrictions further, recently gathered enough signatures to qualify for a a popular vote. The initiative, dubbed the countryside initiative, was officially registered after gathering 104,487 valid signatures, more than the 100,000 that must be collected within 100 days to […]
Rising numbers struggling to pay rent in Switzerland
Nearly 44% of renters surveyed said that coming up with the money pay rent is now harder than it was before Covid-19, according to ASLOCA, a renters’ association. Following the survey the organisation is calling for more protection against the cancellation of rental contracts and moratoriums on evictions. The main reason cited for the current […]
Referendum: higher tax deductions for children and childcare
In Switzerland, parents can claim tax allowances for their children. Currently they can deduct CHF 6,500 for each child plus up to CHF 10,100 per child for money spent on childcare from their federal tax calculation. Residents of Switzerland pay three layers of tax: federal, cantonal and municipal. These particular deductions apply only to federal […]
Cost of Swiss health insurance to rise in 2021
Compulsory Swiss health insurance premiums are set to rise by an average of 0.5% in 2021, according to the Federal Office of Public Health (FOPH). The average monthly premium will rise to CHF 316.50, 0.5% higher than in 2020. Premiums have risen an average of 3.7% p.a. since obligatory insurance was introduced in Switzerland in […]
Unemployment up in second quarter of 2020 in Switzerland
Switzerland’s unemployment rate rose from 4.2% to 4.6% in the second quarter of 2020, according to a recent survey that measures unemployment more broadly than Switzerland’s official unemployment measure. The method used for these calculations is the one defined by the International Labour Organisation (ILO), which includes all available job seekers – ILO definition of unemployment. […]
Swiss incomes could end up more than 1,700 francs lower due to Covid-19
Covid-19 is forecast to hit personal incomes by a total of around CHF 15 billion both this year and in 2021, according to the Basel-based research institute BAK Economics, reported Le Matin. Spread across Switzerland’s 8.6 million residents this comes out at around CHF 1,740 per person and CHF 2,830 per worker. BAK Economics expects […]
