Switzerland’s federal government is spending more money than it collects in taxes. This week, a federal commission set out options for spending cuts, reported SRF. The problem is than some of them would involve less federal money going to cantonal governments. Switzerland’s Finance Minister Karin Keller-Sutter hopes to break the deadlock around balancing the federal […]
Travelling by car becoming increasingly cheaper than public transport in Switzerland
Since 1990, the cost of travel by car has risen 24%, while travel by public transport has leapt by more than 100%, reported SRF. Since 1990, fuel prices and car prices have fallen, while the cost of tickets to ride public transport have consistently risen. According to Stefan Meierhans, Switzerland’s chief price watchdog, the rising […]
Electricity price cuts for 2025 by region
Electricity prices will fall across most of Switzerland next year. The average price drop across the country will be around 10%. However, the drop will vary by location and prices will rise in a few regions, reported RTS. In some places the price will drop by more than 20%. In a few it will rise […]
Swiss homeowners association rejects government plan to charge all home owners for earthquakes
Last week, the government in Bern broadly supported a plan to force all property owners to contribute to the cost of earthquake repair. This week, a Swiss homeowners association rejected the idea, reported SRF. The government plan is a response to the attitude of many home owners towards insurance. Only 15% of buildings are insured […]
Swiss pensions and benefits to rise in 2025
This week, Switzerland’s federal government announced future increases to state pensions, disability benefits and family support benefits, reported RTS. The 2.9% increase is the first adjustment since 2009. It means monthly pension and disability payments will rise on 1 January 2025 by between CHF 35 and CHF 70, depending on the level of salary based […]
Federal government to increase tax deductions
Over time, salaries increase with inflation. However, if tax deductions and allowances are not adjusted the percentage of income taken in tax rises, a phenomenon known as tax creep or fiscal drag. Given recent inflation, Switzerland’s federal government announced this week that it was increasing allowances and deductions, reported SRF. From 2025, the child and […]
All Swiss property owners could be hit with earthquake bill
Switzerland sometimes feels like the land of insurance. Numerous costs that are covered by taxes in many places come instead in the form of compulsory insurance in Switzerland. However, some risks remain uncovered by compulsory insurance. Earthquakes are one such risk. This week, a plan to force all property owners to contribute to the cost […]
Swiss government plans to fund higher pensions with higher VAT
In March 2024, 58% of voters voted in favour of paying an additional 13th month of state pension. That triggered a fierce debate on how to fund it. This week, Switzerland’s Federal Council said it planned to fund the increase with higher VAT with no rise in salary taxes. The news was delivered by Elisabeth […]
Instant payments to start soon in Switzerland
Currently, payments between Swiss bank accounts are typically processed the following day. From 20 August 2024, Swiss banks will start to roll out instant payments within Switzerland, reported RTS. The new instant payment system will move money within 10 seconds and will operate around the clock seven days a week. In addition to speed, the […]
Pension calculation error does not change future, argues statistician
This week, an error was found in the government’s calculation of the future hole in state pension funding. While the error, which overstates the shortfall by CHF 4 billion, is substantial, it does not change the trend, according to Stéphane Rossini, head of the Federal Statistical Office (FSO), reported RTS. The CHF 4 billion error […]
